the industrial revolution Flashcards
1
Q
bourgeoisie
A
middle class factory owners
2
Q
socialism
A
- production owned by gov.
- welfare, no poverty, no social classes, and no bad working conditions
3
Q
globalization
A
- increasing connections of world
- communication, commerce, culture, and politics
4
Q
domestic system
A
- people make things at home
- entrepenuars supply materials
5
Q
proletariat
A
- working people without producing property
- paid laborers in agriculture/ urban poor
6
Q
Robert fulton
A
-steam engine
7
Q
laissez faire
A
-believed gov. should have little rule in economic affairs
8
Q
enclosure movement
A
- british aristocrats rationalize farms
- crop rotations
- forced poor off the aristocrats new claimed land
9
Q
entrepenuer
A
-organizes business taking financial risks
10
Q
capital
A
- cash/goods used for income
- invested in businesses/ income property
11
Q
economic liberalism
A
-idea that government does not control prices, rents, and wages but allow competition and supply and demand to create equilibrium
