Ch.25 - Vocabulary quiz Flashcards
a fenced-in field created by wealthy British landowners from previously “common” land worked by village farmers (or the movement to create more such fenced-in fields)
enclosure
energy sources such as coal, oil and natural gas which were formed over centuries from the remains of plants and animals buried under rock and which fueled the economic growth of the industrial revolution
fossil fuels
the development of industries for the machine production of goods; put another way, the transition from manufacturing goods by hand in small shops to the mass production of goods in factories
industrialization
a large building in which machinery is used to manufacture goods
factory
cloth or fabric; the first industry to industrialize during the Industrial Revolution
textiles
the growth of cities and the migration of people into them from more rural areas
urbanization
a social class made up primarily of skilled workers, professionals and business owners; they demand political change in the French Revolution, and they lead the big changes of the Industrial Revolution
bourgeoisie / aka the middle class
a social class of non-property-owning laborers which emerged during the Industrial Revolution as poor peasants moved to cities and went to work in factories
proletariat / aka the working class
the idea that governments should not inerfere with or regulate private business decision making
laissez-faire
a share in the ownership of a business known as a corporation
Stock
A business owned by stock holders who share in its profits but are not personally responsible for its debts.
Corporation
An economic system in which private individuals own the means of production and make their own decisions about how they use economic resources
Capitalism
an economic system in which the means of production are owned or regulated by the public and managed for the benefit of all in the society
socialism
an association of workers, formed to collectively bargain with business owners for better working conditions or higher wages
union
to refuse to work to force an employer to meet certain demands
strike
the idea that individuals should have absolute (or near absolute) freedom to manage their own property and make economic decisions for themselves
capitalism