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Flashcards in Industrial Revolution Deck (20):
0

Agricultural Revolution

*Transition into more advanced/productive agricultural period

1

Working class/proletariat

Laborers

2

Commercial expansion

*To make profit on a scale larger than before through sales

3

Subsistence farming

Growing enough food to feed themselves and their families

4

Middle class/bourgeoisie

Social class of skilled workers, professionals, business people, wealthy farmers

5

Mass production

Productions of large amounts of standardized products; esp. on assembly lines

6

Cottage industry

Business or manufacturing activity carried on in a person's home

7

Laissez-faire economics

Economy without government interference like letting industry/business owners set working conditions without interference

8

Division of labor

Assignment of different parts to improve efficiency

9

Enclosure movement

Resulted in new agricultural methods tried and small farmers either became tenant farmers or moved to the cities

10

Socialism

Operate for the welfare of all, factors of production are owned by public

11

Labor union

Group that speaks for all workers in a particular trade

12

Factory system

*Fixed capital, raw material, labor operations are under one authority and sophisticated machinery is used

13

Utilitarianism

Greatest good for the greatest number of people

14

Entrepreneur

Person who manages a business, also organizes and takes on risks

15

Urbanization

City building and the movement of people to cities

16

Utopia

Perfect living space

17

Consumerism

Protection of the consumers' interests

18

Rural

Characteristic of the countryside rather than the town

19

Capitalism

* Money is invested in business ventures to profit, factors of production are privately owned, free market