Industrial Revolution Vocab Flashcards
Industrial Revolution
Period beginning in the 1700s in which production shifted from simple hand tools to complex machinery and sources of energy shifted from human or animal power to steam and electricity
enclosure
Process of taking over and consolidating land formerly shared by peasant farmers
capital
Money or wealth used to invest in business or enterprise
entrepreneur
Person who organizes and manages their own business
urbanization
Movement of people from a rural area to cities
tenement
Multistory building divided into crowded apartments
standard of living
Level of material goods and services available to people in a society
social mobility
Ability to move in social class
free market
Market regulated by the natural laws of supply and demand
socialism
System in which the people as a whole rather than private individuals own all property and operate all
Karl Marx
Political thinker whose ideas became the foundation for communism.
communism
Political and economic system in which government owns all property and makes all economic decisions.
Henry Bessemer
Invented the Bessemer Converter. *_____ Process
Alfred Nobel
Invented dynamite.
Thomas Edison
Produced 1,093 inventions and improvements in several industries. *Lightbulb
