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Flashcards in Chapter 13 Notes Deck (100):
1

before 1600 most European villages worked

their own plots of land in order to grow food for their families

2

Enclosure Movement

the practice of fencing or enclosing common lands into individual holdings; small land holdings put together to form larger land holdings

3

Effects of the Enclosure Movement

1. Small plot owners were forced to become tenant farmers or move to the cities 2. common lands were vanishing 3. new farming methods so more food was being produced

4

Jethro Tull invented

a seed drill to plant seeds in a straight row

5

Charles Townshend introduced a system called

crop rotation

6

Industrial Revolution began in

England

7

Factors of Production were

land, labor, and capital

8

land refers to

all natural resources and England had plenty of coal and iron ore

9

capital

tools, machinery, equipment, and inventory
also money

10

labor

workers

11

what was the first industry to be industrialized

the textile industry

12

domestic system

work was done in the individual's home
problem-the demand for cloth could not be met

13

John Kay

introduced the flying shuttle

14

What did the flying shuttle do for the weaving industry

weavers could now make cloth and could meet their demand and then some

15

James Hargreaves introduced the

spinning jenny

16

Richard Arkwright

introduced a new power source- running water

17

factory system

have large numbers of workers brought under one roof and did the work in a factory

18

Edmund Cartwright

invented the water loom

19

Eli Whitney

introduced the cotton gin

20

What happened as a result of the cotton gin being introduced

1. Southern US became the cotton producer of the world 2. an unintended side effect was an increase in slavery or the expansion of slavery

21

Early machines were driven by and later replaced water

water power
steam

22

Thomas Newcomen

invented the first steam engine

23

James Watt

patented the modern steam engine; improved the steam engine

24

William Kelly/ Henry Bessemer

developed a cheaper more efficient method of making steel called the Bessemer process

25

Robert Fulton

first to build a profitable steamboat called the Clermont

26

Samuel Morse

developed Morse Code and the telegraph

27

Reasons Great Britain led the way in industrialization

1. plenty of coal and iron ore reserves 2. transportation system 3. entrepreneurs' capital-the people that start the businesses and take the risk 4. an increase in food production 5. colonial empire (raw materials) 6. the government supported industrialization

28

employers wanted workers who could learn

a few simple tasks

29

who became efficient workers

women and children

30

young men and women were the preferred workers because

they did not have set working habits and did not expect high wages

31

in the domestic system

1. workers usually worked unsupervised in their homes 2. turned over finished products about once a week 3. paid for the number of items completed

32

in the factory system

1. worker performed only a small part of the entire job 2. everyone employed by the factory owners 3. payment based on the number of hours worked

33

factory owners wanted to

produced goods as cheaply as possible

34

number of workers affected

wages

35

wages for men were

higher

36

What were the factory working conditions

1. pay was extremely low with no compensation for injury 2. young children had to work and there were no child labor laws 3. if you broke the boss's rules you were fired 4. very hot in summer and cold in winter 5. worked 14 hrs a day 6 days a week 6. children were not getting educated if they were working

37

tenaments

shabby apartment buildings were workers lived

38

balance of economic and political power shifted from to

agriculture
manufacturing

39

as industries grew and cities grew a new thrived

well-educated middle class

40

this middle class consisted of

bankers, manufacturers, merchants, lawyers, doctors, engineers, and professors

41

finances reflected their

social status

42

this middle class could afford to

live in larger homes and less crowded neighborhoods

43

many from the middle class owned and hired

property
servants

44

Since factory owners wanted to produce goods as cheaply as possible, when the cost of land or capital rose,

owners lowered workers' wages

45

Factory workers were forced to adjust their lives to the demands of the machines, which led some people to think

they were expected to become machines themselves

46

the lower classes gained increasing

social influence and political power during the Industrial Revolution

47

capitalism

an economic system in which individuals or corporations rather than governments control the factors of production

48

commercial capitalism

capitalists were merchants who bought and sold goods

49

industrial capitalism

capitalists became more involved in producing and manufacturing goods

50

division of labor

factory owner divided up the manufacturing process into steps and assigned a step to each worker

51

interchangeable parts

parts that were identical so could easily be replaced

52

applied interchangeable parts and division of labor in his gun factory

Eli Whitney

53

mass production

the system of producing large numbers of identical items

54

three key elements for mass production

division of labor, the use of interchangeable parts, and an assembly line

55

applied assembly line concept to automotive process

Henry Ford

56

sole proprietorship

a business owned and run by just one person

57

partnerships

a business owned and run by two or more people

58

monopoly

where a single corporation has almost complete control of the production or sale of a single good or service; a company exclusively controls a product

59

cartel

where several large companies secretly combine to set production; where several giant corporations combine to control every stage of entire industries

60

business cycle

phases in the economy that go up and down; alternating periods of prosperity and decline

61

name and describe the phases of the business cycle

1. peak-highest level of the cycle 2. expansion-we are rounding the corner 3. contraction "recession"-cycle starts to downturn or go down 4. trough-the lowest point in the cycle

62

mercantilism is a theory based on

the belief that the world contains only a fixed amount of wealth (gold was the standard) (must try to accumulate gold)

63

physiocrats said that

natural laws should govern economic life

64

Adam Smith wrote

The Wealth of Nations in 1776

65

Adam Smith was the founder of

classical economics

66

Adam Smith said that the law of supply and demand governed

all business and economic activity

67

the laws of competition said that

as manufacturers compete with one another to sell products they have to lower prices so as to be more competitive

68

laissez-faire

means "let it be" or "leave things alone"; the belief that government should not interfere with the operations of businesses

69

Thomas Malthus was who wrote an essay called

an Anglican clergyman who became a professor of economics
An Essay on the Principle of Population

70

Thomas Malthus said in his essay that

people multiply more rapidly than the food supply increases

71

David Ricardo published

Principles of Political Economy and Taxation (1817)

72

David Ricardo introduced the

iron law of wages

73

the iron law of wages said

1. when labor is plentiful, wages remain low 2. when labor is scarce, wages rise

74

dismal science

the new social science of economics

75

humanitarianism

people who work to improve the condition of others

76

In utilitarianism Jeremy Bentham said that the law is useful if

it benefit the greatest number of people; it led to the "greatest happiness of the greatest number" of people

77

John Stuart Mill argued for utilitarianism when he said that

government should work for the good of all its citizens

78

What were the objectives of the labor unions

better wages and better working conditions

79

what did the Combination Acts (1799/1800) in Britain say

it was legislation that said that workers who united to protest conditions in factories could be imprisoned

80

collective bargaining

workers and management work together to negotiate for better conditions and better wages

81

socialism

governments own the means of production and operate them for the benefit of all people, rich or poor

82

the economy during the Industrial Revolution shifted from

agriculture to manufacturing

83

a few people became as a result of this shift but most remained

enormously rich
poor

84

reformers argued that the only way to distribute wealth was

to change the ownership and operation of the means of production

85

means of production include

capital and equipment used to produced and exchange goods
ex. land, factories, transportation systems, and mines

86

reformers wanted to establish a system that would

do away with the profit motive and competition

87

the reformers believed that everyone had a right to

share in the profits

88

utopian socialists

believed people could live together peacefully and work for the common good

89

Sir Thomas More published

Utopia

90

in his book Utopia, Sir Thomas More worked out plans for

a perfect ideal community

91

Robert Own was one of the most

influential utopian socialists

92

villages of cooperation

self-supporting communities

93

Karl Marx wrote which was

The Communist Manifesto
a book establishing the main ideas of communism

94

Karl Marx divided society into two classes. What are those classes?

1. the bourgeoisie-the owners-called the "haves" 2. the proletariat-the working class-called the "have nots"

95

Labor supply theory

the laborers (or havenots) are going to create wealth but the wealth will stay with the owners

96

dictatorship of the proletariat

1. the owners are going to continue to get wealthy 2. and continue to drive the workers into poverty

97

people would eventually and the state would " "

rebel
wither away

98

when people rebel it would result in a

truly classless society

99

pure communism

a truly classless society

100

who said "from each according to his abilities to each according to his needs"

Karl Marx

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