4186817
Description
Flashcards by RachelSilver, updated more than 1 year ago
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Created by RachelSilver
over 8 years ago
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| Question | Answer |
| Urbanization | City building and the movement of people to cities. rsks |
| Entrepreneur | A person who organizes and operates a business or businesses, taking on greater than normal financial risks to do so. |
| Luddite | A group of working class people: attacked factories sin Northern England and rioted because of poor living and working conditions. |
| Middle Class | A social class made up of skilled workers, professionals, business people, and wealthy farmers. |
| Samuel Slater | A British mill worker who built a spinning machine from memory and partial design. |
| Francis Cabot | Mechanized every stage in the manufacture of cloth |
| Corportation | A business owned by stockholders who share in its profits but are not personally responsible for its debts |
| Capitalism | An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by state. |
| Socialism | All factors of production are owned by the public and operate welfare for all. |
| Adam Smith | Believed economic liberty guaranteed economic progress; the government should not interfere. |
| Thomas Maithus | Believed population tended to increase more rapidly than food supply. Without wars and epidemics to kill off extra people, most were destined to be poor and miserable. |
| Inventions in textile industry | -Spinning Jenny -Cotton Gin |
| Improvements in farming methods from Agricultural Revolution | -Crop rotation -Livestock breeding |
| Enclosure movement | Wealthy landowners bought land from village farmers, enclosed it, and experimented with more efficient farming methods. |
| Why Industrial Revolution started in England | -Natural resources -Good banking system -Expanding economy |
| Positive effects of Industrial Revolution | -Better quality of life -Plentiful jobs |
| Negative effects of Industrial Revolution | -Unhealthy working conditions -Child labor |
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