Industrial Revolution Vocab

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Flashcards by tanna.jensen, updated more than 1 year ago
tanna.jensen
Created by tanna.jensen about 7 years ago
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Flashcards on Industrial Revolution Vocab, created by tanna.jensen on 04/08/2014.

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Industrial Revolution changes beginning in the 1700's, when power-driven machines began to do much of the work that people had done before
Enclosure Movement practice of fencing or enclosing common lands into individual holdings
Crop Rotation the practice of altering crops of different kinds to preserve soil fertility
Factors of Production basic resources necessary for industrialization, such as lands, capital, or labor
Mechanization use of automatic machinery to increase production
Domestic System method of production in which work is done in homes rather than in a shop or factory
Factory System production of goods in a factory through through the use of machines and a large number of workers
Bessemer Process method of making steel that involves the forcing of air through molten iron to burn off carbon and other impurities
Capitalism economic system in which private individuals rather than the government control the factors of production
Commercial Capitalism early phase of capitalism involving merchants who bought, sold, and exchanged goods
Industrial Capitalism type of capitalism occurring during the Industrial Revolution when capitalists were involved in producing and manufacturing goods themselves, often using mechanized and industrialized methods of production
Division of Labor characteristic of civilizations in which different people perform different jobs
Interchangeable Parts parts that can go equally well in other components
Mass Production system of manufacturing large numbers of identical items
Sole Proprietorship business owned and controlled by one person
Partnership business owned and controlled by two of more people
Corporation business organization in which individuals buy shares of stock, elect directors to decide policies and hire managers, and receive dividends according to the number of shares they own
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