Industial Vocab Flashcards
Assembly line
Production method that breaks down a complex job into a series of smaller tasks
Anesthetic
Drug that prevents pain during surgery
Capital
Money or wealth
Capitalism
Economic system in which the means of production are privately owned and operated for profit
Cartel
Association of large corporations formed to fix prices, set production quotas or divide up markets
Communism
Form of socialism advocated by Karl Marx class struggle was inevitable and would lead to the creation of a classless society in which all wealth and property would be owned by the community as a whole
Corporation
Business owned by many investors who buy shares and risk only the amount of their investment
Enclosure
In England in the 1700s the process of taking over and fencing off public lands
Factory
Place in which workers and machines are brought together to produce large quantities of goods
Germ theory
Idea that certain microbes might cause specific infectious diseases
Impressionism
School of painting of the 1800s and early 1900s that tried to capture fleeing visual impressions
Interchangeable parts
Identical components that can be used in place of one another in manufacturing labor union worker organization
Lassez faire
Policy allowing business to operate with little or no government interference
Means of production
Farms factories railways and other large businesses that produce and distribute goods
Mutual and society
Self help group set up to aid sick or injured workers