Podcast
Questions and Answers
What is a key characteristic of the bourgeoisie?
What is a key characteristic of the bourgeoisie?
- They are members of the working class.
- They are typically found in rural areas, far from cities.
- They are primarily involved in agriculture.
- They are known for their ownership of factories and businesses. (correct)
What is a common outcome of competition in a capitalist economy?
What is a common outcome of competition in a capitalist economy?
- Increased government regulation of businesses.
- Lower prices and improved product quality. (correct)
- Reduced innovation and product variety.
- Higher unemployment rates due to excessive competition.
What is the primary function of labor disputes in a capitalist economy?
What is the primary function of labor disputes in a capitalist economy?
- To limit the rights of workers.
- To increase the profits of businesses.
- To create a more cooperative environment between workers and employers.
- To achieve improved working conditions and wages. (correct)
What was the main motivation for early worker organizations like mutual aid societies?
What was the main motivation for early worker organizations like mutual aid societies?
What is a significant consequence of the capitalist system on society?
What is a significant consequence of the capitalist system on society?
Flashcards
Bourgeoisie
Bourgeoisie
Owners of capital, factories, and businesses in a capitalist system.
Proletariat
Proletariat
Workers in factories and mines, dependent on wages for living.
Worker Associations
Worker Associations
Groups formed to address and represent worker issues.
Unions
Unions
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Mutual Aid Societies
Mutual Aid Societies
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Study Notes
Economic Consequences of Capitalism
- Capitalism introduced a new economic system based on private property and economic freedom
- Key characteristics include free initiative, where individuals pursue maximum profit with minimal government intervention.
- Supply and demand regulate the market, and competition among businesses leads to better products and lower prices.
- Society became divided by class, with capitalists owning businesses and workers being employed
Bourgeois Class
- The bourgeoisie owned the means of production, including factories, banks, and businesses.
- They thrived and expanded their operations, becoming owners of factories and other major businesses.
Proletariat/Working Class
- The proletariat relied on work at factories, mines, and in transport industries
- Their lives were deeply affected by factory conditions, which were often dangerous and low-paying for long hours.
Workers' Movements
- Workers began organizing to address labor exploitation, forming associations to improve their conditions.
- Resistance to poor factory conditions and low pay resulted in protests and actions.
- Mutual aid societies and unions were established to help workers facing accidents, illness, or unemployment.
- Unions like the Great Trade Union fought for worker rights, improved wages and working conditions, and increased protections for children.
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