Industrial Revolution Vocabulary
Agrarian/Agricultural Revolution
• A period in the early 1700’s when there was an increase in the effectiveness of farming
Enclosure• The purchasing and
combination of many small farms buy a single owner
• Forces many to move to the cities
• Allows for experimentation in farming
Urbanization
• The growth of cities as well as people moving to the cities
Industrialization
• The growth of factories
Industrial Revolution
• A period beginning in the mid 1700’s when the production of goods shifted from hand made to machine made
Factors of Production
• Things needed for successful industrialization
• Land, Labor, and Capital!
Natural Resources
• Materials in the environment which can be used for production; wood, gas, oil, rivers
Union
• A group of workers joined together to fight for better wages & working conditions
Laissez Faire
• Idea that the government should not interfere with the economy (hands off)
Economy
• Money system
Free Market Economy/Capitalism
• An economic system based on supply and demand
Socialism/Mixed Economy
• Economic system with both private and government run businesses
Command Economy/Communism• Economy
where all economic decisions are made by the government