Chapter 21 Flashcards
Massive growth in cities
Urbanization
Identical machine made parts
Interchangeable parts
System of government which government actions benefit the majority
Utilitarianism
Land, labor, capital
Factors of production
Process in which one person is trained to do one job
Division of labor
No government intervention in the economy
Laissez Faire
Period of time in which manpower was replaced by machine power
Industrial revolution
Training to do a specific job
Specialization
Economic system based off of private industry
Capitalism
Government in which the people own and operate everything
Communism
Process of producing large numbers of identical goods
Mass production
Government owns and operates all production
Socialism
Process of mass producing goods based on specialization
Assembly line
British economist who advocated Laissez Faire economics
Adam Smith
What are three things that brought on the agricultural revolution?
New technology
Crop rotation
Enclosure movement
What was the enclosure movement?
Wealthy farmers bought all the land
What are four reasons why the industrial revolution happened in England?
Factors of production
Expanding economy
Stable political climate
Natural resources
What was the first industry in England that was affected by the industrial revolution?
Textile industry
How did the invention of the steam engine affect transportation methods?
Decreased transportation times
What are six ways the industrial revolution changed cities?
Urbanization
Poor sanitation
Increased price on goods
Standard of living increased
No safety precautions
Leisure activities
What characteristic defined the upper class in the industrial revolution?
Factory owners
What characteristic defined the middle class in the industrial revolution?
White-collar jobs
What characteristic defined the working class in the industrial revolution?
Blue-collar jobs
What were six effects of the industrial revolution?
Nations became richer
Created jobs
Technological innovations
Standard of living increased
Creation of unions
Increased education
How did the industrial revolution come to America?
Samuel Slater brought factory and machine ideas to America
What were three where is America improved the industrial revolution?
Interchangeable parts
Assembly line
Division of labor
What was the three natural laws that Adam Smith said the economy ran off of?
Self interest
Supply and demand
Competition
What was the purpose of private industry in capitalism?
To make profits and invest
What were five new government ideas came from the industrial revolution?
Utilitarianism
Communism
Anarchism
Socialism
Utopian society
What phrase sums up utilitarianism?
The greatest good for the greatest amount of people
What were two characteristics of socialism?
No private industry
Equality
What was the goal of the utopian society?
Perfect society
What was the purpose of communism?
To create equality because there were no social classes
