Industrial Revolution Flashcards
(17 cards)
What is the Industrial Revolution?
A major shift in the 18th–19th centuries where production moved from hand tools to machines, beginning in Britain.
This period marked significant technological advancements and changes in manufacturing processes.
Define Enclosure in the context of agriculture.
The process of consolidating small landholdings into larger farms, which increased agricultural efficiency but displaced many farmers.
Enclosure led to increased productivity but also social upheaval.
What is Crop Rotation?
Farming method that changed which crops were planted yearly to restore soil nutrients and boost food production.
This technique helped prevent soil depletion.
List the Factors of Production essential for industrialization.
- Land
- Labor
- Capital (money)
- Entrepreneurship
These elements are crucial for economic growth and industrial development.
What is a Factory?
Buildings where goods were mass-produced using machines and a large labor force.
Factories played a central role in the industrial economy.
Who is considered an Entrepreneur?
A person who starts, manages, and takes risks in a business or industrial venture.
Entrepreneurs drive innovation and economic growth.
Define Industrialization.
The development of industries and machine production of goods, especially in urban areas.
This process transformed economies from agrarian to industrial.
What does Urbanization refer to?
The growth of cities due to people moving from rural areas to work in factories.
Urbanization changed social structures and lifestyles.
What is a Corporation?
A large business owned by stockholders who share in its profits but are not personally responsible for its debts.
Corporations can raise capital by selling shares.
Compare Capitalism and Marxism.
Capitalism supports private ownership and free markets; Marxism promotes class struggle and a classless society.
These are opposing economic and political ideologies.
What does Laissez-Faire mean?
Economic theory meaning ‘let do’ or ‘hands off’—the idea that government should not interfere in business.
This principle advocates for minimal government intervention in the economy.
Define Utilitarianism.
The belief that laws and actions should promote the greatest good for the greatest number of people.
Utilitarianism is often used as a standard for evaluating policies.
What is Socialism?
Economic system where the means of production are owned and regulated by the public or state for the welfare of all.
Socialism aims to reduce inequality and provide for the common good.
Who is Karl Marx?
Co-author of The Communist Manifesto; criticized capitalism and called for a proletarian (working-class) revolution.
Marx’s ideas laid the foundation for modern socialism and communism.
Define Communism.
A political and economic system where all property is publicly owned and each person works and is paid based on their abilities and needs.
Communism seeks to eliminate class distinctions.
Who was Andrew Carnegie?
Industrialist who led the expansion of the U.S. steel industry and believed in philanthropy.
Carnegie’s legacy includes significant contributions to education and libraries.
What is Suffrage?
The right to vote; women’s suffrage became a major movement in the 19th–20th centuries.
The suffrage movement sought to secure voting rights for women.
