Trade Union key words Flashcards
Capitalism
Private businesses for the pursuit of profit
Industrial revolution
Period of change and move to a factory based economy
Industrialisation
The process of changing from an agricultural to an industrial economy
Profit
money left over for business owner after all expenses are accounted for
Entrepreneur
person who sets up a business
Knobstick
strike breaker
Trade society
Early trade union
Laissez-faire
Government approach to let the economy run itself
Artisan
skilled worker
journeyman
trainee worker (in craft industry)
closed shop
work organisation where all workers are in a trade union
Co-operative movement
collective organisation mutually beneficial to members
trade union
a collective organisation of workers
factory system
production of goods on large scale using machinery
cottage industry
craft industry from people’s homes