Transcript industrial revolution vocabulary ml

Industrial Revolution Vocabulary
Vocabulary Breakdown
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In the glossary:
Industrialization
Industrial Revolution
Factors of Production
Entrepreneur
Urbanization
Middle Class
Capitalism
Socialism
Communism
Strike
Union
• In the text/on the board:
• Agricultural Revolution pg.
283
• Karl Marx pg. 302
• Rural- characteristic of the
countryside rather than
the town
• Urban- Characteristic of a
city or town
• Economics- The branch of
knowledge concerned with
the production,
consumption, and transfer
of wealth.
Industrialization
• The development of industries for the
machine production of goods.
Industrial Revolution
• The shift, beginning in England during the 18th
century, from making goods by hand to
making them by machine.
Factors of Production
• The resources—including land, labor, and
capital—that are needed to produce goods
and services
Entrepreneur
• A person who organizes, manages, and takes
on the risks of a business
Urbanization
• The growth of cities and the migration of
people into them.
Middle Class
• A social class made up of skilled workers,
professionals, businesspeople, and wealthy
farmers.
Capitalism
• An economic system based on private
ownership and on the investment of money in
business ventures in order to make a profit.
Socialism
• An economic system in which the factors of
production are owned by the public and
operate for the welfare of all.
Communism
• 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.
Strike
• To refuse to work in order to force an
employer to meet certain demands.
Union
• An association of workers, formed to bargain
for better working conditions and higher
wages.
Agricultural Revolution
• Large landowners dramatically improved
farming methods.
Karl Marx
• Author of the Communist Manifesto, a radical
type of socialism.
Rural
• Characteristic of the countryside rather than
the town.
Urban
• Characteristic of a city or town.
Economics
• The branch of knowledge concerned with the
production, consumption, and transfer of
wealth.
Natural Resources
• Materials or substances such as minerals,
forests, water, and fertile land that occur in
nature and can be used for economic gain