vocabulary Flashcards
Enclosure movement
wealthy farmers bought land from small farmers, then benefited from economies of scale in farming huge tracts of land.
Crop Rotation
the action of rotating around an axis or center.
Industrial Revolution
a period of major industrialization that took place during the late 1700s and early 1800s
Factors of production
an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit.
Mechanization
the process of changing from working largely or exclusively by hand or with animals to doing that work with machinery.
Factory system
system of manufacturing that began in the 18th century with the development of the power loom and the steam engine and is based on concentration of industry into large establishments —contrasted with domestic system.
Cottage industry
a business or manufacturing activity carried on in a person’s home.
Entrepreneur
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Tenements
a room or a set of rooms forming a separate residence within a house or block of apartments
Mass production
the manufacture of large quantities of standardized products, frequently utilizing assembly line technology.
Fordism
the system of mass production that was pioneered in the early 20th century by the Ford Motor Company or
Corporation
a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
Monopoly
the exclusive possession or control of the supply or trade in a commodity or service.
Strikes
a refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer.
Unions
the action or fact of joining or being joined, especially in a political context.
collective
done by people acting as a group.
bargaining
negotiate the terms and conditions of a transaction.
Eli Whitney
an American inventor best known for inventing the cotton gin.
James Watt
Scottish engineer and inventor.
Henry Bessemer
an English inventor, whose steelmaking process would become the most important technique for making steel in the nineteenth century.
Richard Arkwright
an inventor and a leading entrepreneur during the early Industrial Revolution.
Robert Fulton
an American engineer and inventor who is widely credited with developing a commercially successful steamboat called The North River Steamboat of Claremont.
Samuel Morse
an American painter and inventor. After having established his reputation as a portrait painter, in his middle age Morse contributed to the invention of a single-wire telegraph system based on European telegraphs.
Henry Ford
an American industrialist, the founder of the Ford Motor Company, and the sponsor of the development of the assembly line technique of mass production.
