Industrial Revolution - Nationalism Flashcards
studying the terms that will help the students in studying for the time period from Industrial Revolution through Nationalism in Europe.
Industrial Revolution
a period of rapid growth and development where we saw revolutions in transportation, communication and industry. this revolution brought about a change to society and the workplace and ultimately ushered in the modern world
Enclosure Movement
When small farms are being bought by larger farms, making it so there are less and less total farms, pushing people to the cities
Urbanization
the population shift from rural to urban
Steam Engine
invented by James Watts, allowed for the machines that fueled the Industrial Revolution
Railroads
The invention that made the transportation of huge amounts of good over vast distances over land possible
Canals
an artificial waterway constructed to allow the passage of boats or ships inland
Capitalism
an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.
Socialism
a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Communism
a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
Communist Manifesto
The political pamphlet written by Karl Marx, where is ideas of Communism are shared. written in 1848
Assembly Line
A new way of making goods very efficiently, where each worker did the same part of a product over and over again. Henry Ford brought this innovation to the automobile industry
Trust
a group of companies that work together to control an entire industry and keep prices up
Monopoly
when a single company is the only supplier of a good or service. without competition, prices are kept high.
Supply and Demand
The economic idea that if there is a low supply and high demand, prices were high, and if there is a high supply and a low demand, prices are low. Adam Smith’s idea.
Laissez-faire
a policy or attitude of letting things take their own course, without interfering. no regulation from government in the economy.