industrial revolution Flashcards
agricultural revolution
changes in farming & crop rotation people reframed how agriculture happened enclosure of farms/land crop rotation increased yield risk of famine decreased
enclosure
forced people out of work
migration to cities in hopes of finding jobs
when did the first IR happen?
1760-1830
when did the second IR happen?
1860-1920
what new things came about as a result of the IR?
new materials (iron & steel), energy sources; including fuels and motive power (coal, steam engine, electricity), new inventions & machines (spinning jenny, power loom, cotton gin), factory systems; increased division of labor & specialization of function, transportation & communication (steamship, automobile, telegraph, radio)
why did Britain want to keep industry in England?
dominance (military), control, economy
why did the IR begin in Britain?
natural resources (colonies), labor (voluntary & involuntary; enslavement), capital = $$$, entrepreneurship
mass production
production of products in mass quantities using interchangeable parts and assembly lines
how did mass production benefit consumers and sellers, but detriment workers?
benefits for consumers: cheaper to buy, easy to access, more of it
benefits for sellers: cheaper to make, higher profit, more sales
detriments for workers: more work hours and lower pay bc low prices
what were some of the results of the IR?
improved way of life & life expectancy, more materials (for dominance; war), more job opportunities
what were class systems like in the IR?
rich stay rich, poor can’t move up
supply & demand
as demand increases, supply decreases and prices get higher
as supply increases, demand decreases and prices get lower
urbanization
growth of; cities grow & more ppl come to live in city!
corporation
a business owned by many investors
trust
a GROUP of corporations that unite to reduce competition and control prices in a business or industry