CH 20 Flashcards
Market Economy
Market Economy. An economy in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Agricultural Revolution
Agricultural Revolution. The time when human beings first domesticated plants and animals and no longer relied entirely on hunting and gathering. Open Field System.
Privacy
Privacy. The right of a person to keep part of their life not open to the public.
First Industrial Revolution
Industrial Revolution. the change from an agricultural to an industrial society and from home manufacturing to factory production.
Textiles
fabrics that are woven or knitted; material for clothing. … Made it possible for one person instead of two to operate a loom in textile manufacturing.
Crystal Palace
The Crystal Palace. An exhibition hall built specifically for the Great Exhibition in 1851. It is significant because it showed England’s technological advancements during the Industrial Revolution, built entirely out of steel and glass.
Factory system
The Factory System. A method of manufacturing adopted in England at the beginning of the Industrial Revolution. Workers go to a factory and work on what they are assigned; paid to run machines, hours were regular, work was repetitive; replaced the domestic system.
Railroads
a track or set of tracks made of steel rails along which passenger and freight trains run.
Urbanization
Definition: Urbanization is the physical growth of urban areas which result in rural migration and even suburban concentration into cities, particularly the very large ones.
Tariffs
Tariffs. duties (taxes) imposed on imported goods; usually imposed both to raise revenue and to discourage imports and protect domestic industries.
Middle class
Middle Middle Class. moderately successful industrialists, merchants, professionals in law and medicine. Lower Middle Class. Independent shopkeepers, small traders, tiny manufacturers. White-collar workers.
Nuclear family
Nuclear Family. The structure of family in Europe in the 18th century. It consisted of only the direct family and forced the young married couples to provide for themselves. This forced people to marry and have children at a younger age. As opposed to extended family.
Market driven wages and prices
Market Driven Wages and Prices. An economic system where decisions regarding investment, production, and distribution are based on the interplay of supply and demand, which determines the prices of goods and services. It also determines the wages given to workers.
Daniel Defoe
Daniel Defoe. Journalist and novelist in England. Advocated stern discipline of children “Spare the rod, and spoil the child.” Remember, he’s “Da foe” of children’s rights. charity schools.
Canals
an artificial waterway constructed to allow the passage of boats or ships inland or to convey water for irrigation.
List’s National System
“National System of Political Economy,” List supported building of railroads, tariff, and the formation of the customs unit among the German States. Economic Nationalism. policies aimed at protecting and developing a country’s economy.
Bessemer Process
Bessemer Process. The process of producing steel by blowing air through molten pig iron and removing impurities. Created by Henry Bessemer. Buildings lasted longer and were not as expensive to build.
Mass production
Mass Production. The process of producing a large number of items quickly using an assembly line.
Telegraph
a system for transmitting messages from a distance along a wire, especially one creating signals by making and breaking an electrical connection.
Steamship
a ship that is propelled by a steam engine.
Factory Act 1833
The Factory Act of 1833, passed after Sadler had left Parliament, restricted the working day in textile mills to 12 hours for persons aged 13 through 17, and 8 hours for those aged 9 through 12.
Mines Act 1842
prohibited boys under the age of ten and all females from laboring in underground mines.
