Questions and Answers
What was the Industrial Revolution characterized by?
What was the enclosure movement?
Wealthy farmers buying land from small farmers.
What is crop rotation?
A method of growing different crops in succession on the same land.
Industrialization transforms an economy from agricultural to manufacturing.
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Which of the following are factors of production?
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What is a factory?
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Who is an entrepreneur?
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What does urbanization refer to?
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What is the middle class?
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What is stock?
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What is a corporation?
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Laissez-faire supports government intervention in business affairs.
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Who is Adam Smith?
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What is capitalism?
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What does utilitarianism propose?
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What is socialism?
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Who is Karl Marx?
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What is communism?
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What is an industrial union?
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What is a strike?
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What is an assembly line?
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Who is Charles Darwin?
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Study Notes
Industrial Revolution
- A pivotal period of rapid industrial development in Britain during the late 18th and 19th centuries.
- Marked by the introduction of machinery, steam power, factory growth, and mass production of goods.
Enclosure Movement
- Emerged in the early 1700s as wealthy farmers acquired land from small farmers.
- Led to economies of scale, transforming agricultural practices and contributing to the Industrial Revolution.
Crop Rotation
- A practice introduced during the Agricultural Revolution to enhance farming efficiency.
- Associated with innovations like the Seed Drill and Selective Breeding, it forced small farmers to adapt or relocate.
Industrialization
- Transition from an agricultural-based economy to manufacturing-focused production.
- Replaced manual labor with mechanized processes and assembly line techniques.
Factors of Production
- Key components include land, labor, resources, and entrepreneurship, crucial for industrial success.
- Resulted in urbanization as large numbers of workers migrated to cities for factory jobs.
Factory System
- Shifted manufacturing from home-based production to specialized factories with powered machinery.
- Allowed for mass production, significantly increasing output.
Entrepreneur
- Individuals who organize, manage, and assume risks associated with starting and operating a business.
Urbanization
- Significant population movement from rural areas to cities during the Industrial Revolution.
- Transition from over 80% rural living to urban centers as workers sought jobs.
Middle Class
- A social class that emerged, consisting of skilled workers, professionals, business owners, and affluent farmers.
Stock and Corporations
- Stock represents ownership in a corporation, allowing shareholders to profit without liability for company debts.
- Corporations are businesses owned by multiple stockholders.
Economic Theories
- Laissez Faire: Advocates minimal government interference in business.
- Adam Smith: Philosopher known for championing laissez faire economics.
- Capitalism: Economic system based on profit-driven investments.
Social Concepts
- Utilitarianism: Evaluates ideas based on their usefulness.
- Socialism: Proposes that businesses should be collectively owned by society.
- Karl Marx: Known for his critiques of capitalism and advocate of Marxism, co-author of The Communist Manifesto.
Communism
- A political theory advocating for a classless society where all property and resources are communally owned.
Labor Movements
- Unions: Organized labor groups advocating for workers’ rights across industries and trades.
- Strikes: Collective worker actions in response to grievances, common during the Industrial Revolution to demand better conditions.
Assembly Line
- A manufacturing process involving sequential addition of parts to create a final product, enhancing production efficiency.
Charles Darwin
- Renowned English naturalist known for his contributions to evolutionary theory, significant in the context of industrial and social changes.
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Test your knowledge of key terms related to the Industrial Revolution with these flashcards. Each card contains a defined term crucial to understanding this transformative period in history. Perfect for students and history enthusiasts alike.
