industrializaton vocabulary Flashcards
1
Q
tenement
A
- overcrowded, slum housing
2
Q
Rural
A
- Areas where not many people live
- in ¨the country¨
- these areas are always shrinking
3
Q
Industrialization
A
- Making stuff with machines in big factorys
- mass production
4
Q
capitalism
A
- capital= money
- Businesses competing to take money
- laissez fair, market economy
5
Q
agrarian
A
- related to farming
6
Q
mechanization
A
- producing stuff with machines
- Automation
7
Q
industry
A
- The business of making things
8
Q
Laissez- faire
A
- AN enlightenment philosophy
- capitalism, market economy
9
Q
social Darwinism
A
- survival of the fittest
- only the strong survive - Everyone is competitive against everyone else.
10
Q
corporation
A
-Business that is owned by many people not just one person
11
Q
Monopoly/trust
A
- one company is the only place you can get a certain good or service
- No competition
12
Q
sherman antitrust act
A
- 1st federal law to attempt to limit monopolies
13
Q
Efficiency
A
- Eliminating waste :
- Eliminating waste time, money, energy, resources, etc
14
Q
productivity
A
- Measure of inputs vs outputs
- If you produce more with the same amount of resources or less, your productivity goes up
15
Q
specialization
A
-Getting really good at production or doing ONE thing.
