resources that occur in nature such as coal - important to Britain and industrial revolution.
wealth to invest enterprises such as shipping, mines, railroads, and factories.
agriculture revolution contributed to rapid population increase; Britain increase from 5 million in 1700 to 9 million in 1800; European population went from 120 million to190 million; This boom was due mainly to declining death rates
movement of people to cities caused by the Industrial revolution; change in farming, rapid population growth, and demand for workers.
economic system in which means of production are privately owned and operated for profit; resulted in direct links with Asia, Africa, and the Americas
two parties go into business together
business owned by many investors who buy shares of stock and risk only the amount of their investments; late 1800's opposed
identical parts could be used in place of one another; manufacturers designed interchangeable parts to improve efficiency
division of labor
important to Industrial Revolution which called for dividing the production process with individual tasks; this reduced the time to make goods because each work did one task, rather than a whole job
worker organizations that won the right of workers to bargain with employers for better pay and working conditions
negotiation between an employer and trade union
policy of permitting business to operate with little or no government interferences; policy advocated by the physiocrats
G. W. F. Hegel
was a German philosopher, one of the creators of German Idealism, and one of the most influential philosophers of the Age of Enlightenment; developed a comprehensive philosophical framework
system in which people as a whole rather than private individuals own all property and operate businesses; radical idea proposed to end poverty and injustice
Austrian Scientist and priest; father of genetics; he studied inheritance of certain traits in pea plants; he showed that the traits follow particular laws: the Law of Segregation and Law of Independent Assortment known now as Mendel's Laws.