U7 L6 Social Changes: Positive Contributions Flashcards
What did the Industrial Revolution raise?
world’s standard of living
If success in the Industrial Revolution did not occur through radical people, what did?
- reforms in the system
- patient debating, compromising, and bargaining
Industrial improvements mainly came as a result of laws passed by what?
- democratic process
- or labor unions using collective bargaining
What did great demand for products result in?
abundant supply
What provided wider distribution of goods and industry’s boom?
- better communication
- better transport
Is there a modern-day nation that is absolutely self-sufficient?
no
What occurred in industrialized nations that led to International trade and commerce being developed?
producing more than they can consume
What occurrence in international trade causes domestic problems?
foreign dealers pricing their products lower than those on the home market
What do businessmen do to combat foreign dealers putting lower prices?
- tariffs placed on less expensive imports
- this raised import prices
- thus protecting internal business and establishing stable economy
What is a tariff?
Taxes on imported goods
What happens if tariffs become too high?
- drop country’s sales, cannot import from other countries
- products accumulate and stop
- trade stagnates, layoffs
- depression or recession
What did increased production bring?
increased demands for large-scale distribution
Nations () surplus goods to () needed products and materials
export, import
Why was trade poor in the Middle ages?
- few roads and bridges (unreliable)
- bandits and pirates on land and sea
- Feudal lords put high taxes to use roads, bridges, water routes
- laws of Roman Catholic Church
The trade that did exist in the Middle Ages occurred where and were organized by who?
- fairs
- feudal lords for own gain
