Module 15 Test Flashcards
entrepreneur
a person who organizes, manages, and takes on risks of running a business
strike
a refusal by factory employees to work
where did the Industrial Revolution begin
Britain
Which industry was the first area to undergo major industrialization
textile
where was the best place to find both a water frame and a spinning mule
a factory
inventor of the cotton gin
Eli Whitney
what natural resources gave Britain an advantage in the Industrial Revolution
coal and iron
an important source of power
the steam engine
helped drive the Industrial Revolution
land, labor, capital
key idea in a laissez-faire free market system
no government involvement
why did Thomas Malthus urge families to have fewer children
he believed the population would outpace the food supply
according to David Ricardo, what would higher wages ultimately lead to
higher cost of goods
according to Karl Marx, which group owned the factories
the bourgeoisie
Karl Marx predicted that the bourgeoisie would be overthrown by the
proletariat
