When did the Industrial Revolution start?
What are the 3 factors of production?
land, labor, capitol
What are the 5 factores of success?
exploration and colonialism, sea power, political stabability, government support, growth of private investment
What was the Enclosure movement?
moved peasants off land, created large efficient farms, increased amount of sheep farming
What did Eli Whitney invent?
What did Jethro Tull invent?
What did Richard Arkwrite invent? What did it come after?
spinning frame, spinning Jenny
Name five causes of the revolution?
farming improvements, enclosure movement, new machines, parliments support of free enterprise, western ideas support industries
What was the cottage industry like?
few quality goods made by hand, people worked at home, and people decided own hours
What were factories like?
mass production of goods, people worked in factories, people worked long hours in harsh conditions
What is communism? Who invented it?
government owns means of production and controls economic planning, Karl Marx
What is socialism? Who invented it?
society of governments own the means of production, Robert Owen
What is capitalism? Who invented it?
economies are controlled by markets, Adam Smith
What are five effects of the revolution?
overcrowding and pollution, rise of middle class, rise of industries,new machines, new ideas in economies