Unit 7 Flashcards

1
Q

Great increase in machine production that began in England in the 18th century

A

Industrial Revolution

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2
Q

Large closed-in field for farming

A

Enclosure

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3
Q

Planting a different crop in a different field each year

A

Crop Rotation

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4
Q

Process of developing machine production of goods

A

Industrialization

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5
Q

Conditions needed to produce goods and services

A

Factors of production

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6
Q

Building where goods are made

A

Factory

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7
Q

Person who organizes, manages, and takes on the financial risk of a business enterprise

A

Entrepreneur

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8
Q

What is urbanization?

A

The growth of cities and the migration of people into them

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9
Q

Why did more people decide to move to cities at this time?

A

It was caused by the growth of the factory system, where the manufacturing of goods was concentrated in a central location

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10
Q

A social class made up of skilled workers, ect

A

middle class

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11
Q

the growth of cities and the migration of people into them.

A

urbanization

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12
Q

a social class made up of skilled workers, professionals, businesspeople, and wealthy farmers.

A

middle class

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13
Q

An outbreak or unusually high occurrence of a disease or illness in a population or area

A

Epidemic

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14
Q

the population of blue-collar workers, particularly skilled and semiskilled laborers, who differ in values, but not necessarily in income

A

Working class

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15
Q

organized to destroy manufacturing machinery, under the belief that its use diminished employment

A

Luddites

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16
Q

organized to destroy manufacturing machinery, under the belief that its use diminished employment

A

slums

17
Q

a business owned by stockholders who share in its profits but are not personally responsible for its debts

A

corporation

18
Q

the idea that government should not interfere with or regulate industries and businesses.

A

laissez faire

19
Q

a professor at the University of Glasgow

A

Adam Smith

20
Q

an economic system based on private ownership and on the investment of money in business ventures in order to make a profit

A

capitalism

21
Q

the theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people

A

utilitarianism

22
Q

an economic system in which the factors of production are owned by the public and operate for the welfare of all

A

socialism

23
Q

a German journalist

A

Karl Marx

24
Q

an economic system in which all means of production—land, mines, factories, railroads, and businesses— are owned by the people, private property does not exist, and all goods and services are shared equally

A

communism

25
Q

an association of workers, formed to bargain for better working conditions and higher wages

A

Union