History Ch6 Flashcards
6.1) Industrial revolution
a radical change in which manual labour was replaced by machines
6.1) Modern age
the period in time from 1800 up to now
6.1) Entrepreneurs
persons who start or run a business with the goal of making profit
6.1) Steam power
an energy source that is derived from heating water; steam is the gas phase of water
6.1) Factories
large buildings in which machines are operated to make a product
6.1) Services
a work sector in which people offer their service in exchange for money; other sectors are agriculture and industry
6.2) Capitalism
an economic system in which making profit and private ownership are essential
6.2) Employer
a person or institution which hires employees to do a certain job in exchange for a wage
6.2) Employee
works for an employer in exchange for a wage
6.2) Socialism
a political and economic system in which equality is important; ways of making money are owned by the whole society
6.2) Trade union:
organisation of labourers and union leaders with the goal of improving the work situation
6.2) Social issue
the problem of bad working, health and living conditions of the labourers
6.2) Social laws:
laws that helped to improve the living and working conditions of labourers
6.3) Constitutional reform:
an adjustment to the constitution
6.3) Conservative
someone who thinks that tradition is important; change is opposed