Industrial Revolution Flashcards
Enclosure Movement
The enclosure movement was this: wealthy farmers bought land from small farmers, then benefited from economies of scale in farming huge tracts of land. The enclosure movement led to improved crop production, such as the rotation of crops.
Crop Rotation
the action or system of rotating crops.
Industrial Revolution
The Industrial Revolution is the name given the movement in which machines changed people’s way of life as well as their methods of manufacture. About the time of the American Revolution, the people of England began to use machines to make cloth and steam engines to run the machines.
Factors of Production
The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Mechinization
Mechanization or mechanization (British English) is the process of changing from working largely or exclusively by hand or with animals to doing that work with machinery.
Factory System
The factory system is a method of manufacturing using machinery and division of labor.
Cottage Industry
a business or manufacturing activity carried on in a person’s home.
entrepreneur
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Tenements
Also called tenement house. a run-down and often overcrowded apartment house, especially in a poor section of a large city. 2. Law. any species of permanent property, as lands, houses, rents, an office, or a franchise, that may be held of another.
Mass Production
n”, “flow production” or “continuous production” is the production of large amounts of standardized products, including and especially on assembly lines
Fordism
Fordism is a term widely used to describe (1) the system of mass production that was pioneered in the early 20th century by the Ford Motor Company or (2) the typical postwar mode of economic growth and its associated political and social order in advanced capitalism
Corporation
a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law
Monoply
e exclusive possession or control of the supply or trade in a commodity or service.
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Strikes
a refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer.
Union
an organized association of workers formed to protect and further their rights and interests; a labor union.