Industrial Revolution Flashcards
Enclosure Movement
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 of rotating around an axis or center
industrial revolution
was a period of major industrialization that took place during the late 1700s and early 1800s. … This time period saw the mechanization of agriculture and textile manufacturing and a revolution in power, including steam ships and railroads, that effected social, cultural and economic condition
factors of production
is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit. The factors of production include land, labor, capital and entrepreneurship.
mechanization
is the process of changing from working largely or exclusively by hand or with animals to doing that work with machinery
factory system
the system of manufacturing that began in the 18th century with the development of the power loom and the steam engine and is based on concentration of industry into large establishments —contrasted with domestic system.
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
a room or a set of rooms forming a separate residence within a house or block of apartments
mass production
is the manufacture of large quantities of standardized products, frequently utilizing assembly line technology. Mass production refers to the process of creating large numbers of similar products efficiently.
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.
monopoly
the exclusive possession or control of the supply or trade in a commodity or service
strikes
hit forcibly and deliberately with one’s hand or a weapon or other implement
unions
the action or fact of joining or being joined, especially in a political context