Ch 25 vocab quiz 3/14 33 terms

Question 1

Agglomeration

Answer 1

clustering of people and industrial activity (factories) to take advantage of labor, technological, and financial services

Question 2

Luddites

Answer 2

social movement of English workers in the early 1800’s that protested-often by destroying textile machines

Question 3

Dependency theory

Answer 3

lower developed countries are caused by their dependence on highly developed nations. Developed countries also need a constant flow of resources- steal from less developed

Question 4

Adam Smith

Answer 4

Creted Lasseiz Faire- hands off policy
Believes society would benefit if people were free from government and interference.
LF allows the right to freely compete for customers
Also didn’t enforce good working conditions, minimum wage, unions
3 natural laws: self-interest, competition, supply and demand

Question 5

Thomas Malthus

Answer 5

Predicted population would outpace food production
3 ways to slow growth- war, disease, famine
Believed with a larger population, the poor would suffer more
Urged families to have fewer children

Question 6

Utilitarianism

Answer 6

The goal of society should be the greatest happiness for the greatest number of people
Utilitarians worked for reforms affecting workers and the poor, form child labor to public health
supported individual freedom

Question 7

John Stuart Mill

Answer 7

advanced the theory of Utilitarianism
Mil’s idea of government meant that factory owners clustering of people and industrial activity (factories) to take advantage of labor, technological, and financial services
achieve happiness if it meant workers feel pain
Opposed Adam Smith and Lasseiz-Faire
Mill wanted the government to step in and improve the lives of the working class
Called for workers and women to have voting power

Question 8

Robert Owen

Answer 8

Mill owner and Utopian idealist
argued against child labor and encouraged unions
Established a model ‘village’-industrial community
Owen built worker housing, schools, proved making a profit and taking care of workers was possible

Question 9

Karl Marx

Answer 9

Despised capitalism, supported Economic Determinism, where all social patterns and institutions are controlled by economic factors
Beleived Class struggle and conflict was the core of society
Society is a struggle between the haves (bourgeoisie) and have-nots (proletariat)
Promoted a classless society, where workers would overthrow owners (capitalists) and create a classless society (communism)

Question 10

David Ricardo

Answer 10

Believed a permanent underclass would always be poor
Many workers and abundant resources equal cheap labor and resources
Opposed government intervention- minimum wage, better working conditions, would lower profits

Question 11

socialism

Answer 11

a system in which the public/community owns all factors of production and operated for the good of all
society should operate for the benefit of all members, rather than the wealthy

Question 12

Communism

Answer 12

a form of “complete” socialism
private/ public property wouldn’t exist, government owned everything
All goods and services would be distributed equally

Question 13

Industrial Revolution

Answer 13

the shift, beginning in England during the 18th century, from making goods by hand to making them by machine
Led to decreased prices and more affordable living conditions

Question 14

Enclosure

Answer 14

one of the fenced-in or hedged-in fields created by wealthy British landowners on land that was formerly worked by village farmers
The combination of several farms into one large farm- no more subsistence farming

Question 15

Crop Rotation

Answer 15

the system of growing a different crop in a field each year to preserve the fertility of the land

Question 16

industrialization

Answer 16

the industry of producing goods by machine instead of by hand

Question 17

factors of production

Answer 17

The resources needed to produce goods and services. that the Industrial Revolution required. Land, Labor, and Capital

Question 18

factory

Answer 18

a large building in which machinery is used to manufacture goods

Question 19

entrepeneur

Answer 19

a person who organizes, manages, and takes on the risks of business

Question 20

urbanization

Answer 20

the growth of cities and the migration of people to them

Question 21

middle class

Answer 21

a social class made up of skilled workers, professionals, business people, and wealthy farmers. They owned the majority of the money and were divided into upper and lower middle class

Question 22

stock

Answer 22

the capital raised by a company or corporation through the issue and subscription of shares.
certain rights of ownership that entrepreneurs sold

Question 23

corporation

Answer 23

a business owned by stockholders who share in its profits but are not personally responsible for its debts

Question 24

lasseiz faire

Answer 24

the idea that government should not interfere with or regulate industries and businesses. Favors a free market unregulated by the government

Question 25

Adam Smith

Answer 25

defended free economy/laissez faire/capitalism

Question 26

capitalism

Answer 26

an economic system based on private ownership and on the investment of money in business ventures in order to make a profit

Question 27

utilitarianism

Answer 27

the theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people

Question 28

socialism

Answer 28

an economic system in which the factors of production are owned by the public and operate for the welfare of all

Question 29

Karl Marx

Answer 29

poor German journalist who co-authored “The Communist Manifesto,” believed that workers will overthrow owners, that class conflicts were the root of society, and shold be gone, supported COMMUNISM

Question 30

communism

Answer 30

an economic system in which all means of production - land, mines, factories, railroads, and businesses - are owned by the people, private property does not exist, and all goods and services are shared equally

Question 31

union

Answer 31

voluntary labor associations formed by the people to bargain for better working conditions and higher wages

Question 32

strike

Answer 32

to refuse to work in order to force an employer to meet certain demands

Question 33

Bourgeouisie

Answer 33

rich, middle class, owners

Question 34

Proletariat

Answer 34

poor, working class, peasants

Question 35

Capital

Answer 35

wealth, machines, resources used to make things, HUMAN MADE

Question 36

Cottage Industry

Answer 36

work at home

Question 37

Invisible Hand

Answer 37

capitalism, people are spurred by SELF-INTEREST AND COMPETITION

Question 38

Mercantilism

Answer 38

sell more goods than buy, natural resources used

Question 39

Agricultural Revolution

Answer 39

farming innovations lead to bigger populations which lead to industrialization