Quizlet WH - Industrial Revolution

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  1. Alexander Graham Bell: Invented the first telephone/telegraph
  2. Capital: The money needed to start a corporation or a factory.
  3. Collective Bargaining: Negotiations between workers and their employers
  4. Corporations: A business owned by stockholders who share the profits but are not personally responsible for its debts.
  5. Domestic System: A system of shearing a sheep giving the wool to a spinner then to a dyer and then to a store to sell the cloth. The money is split between the whole group.
  6. Edmund Cartwright: Invented first power loom
  7. Eli Whitney: Invents cotton gin
  8. Enclosure movement: A system that allowed farm owners to map out their property and put up barriers to mark it.
  9. Entrepreneurs: A person who organizes, manages, and takes on the risks of a business.
  10. Factory system: A building that contains all the machines needed to complete the domestic system. All of the profits are to the one factory owner and employees.
  11. Guglielmo Marconi: Invented the first one way radio
  12. Henry Bessemer: Finds cheaper and more effective way to make steel.
  13. Henry Ford: Decided to make cars that were affordable for most people based on German technology.
  14. Industrial Capitalism: An economic system in which the factors of production are privately owned and money is invested in business ventures to make a profit.
  15. James Hargreaves: Invented the spinning Jenny
  16. Labor: The employees and people needed to work a corporation and a factory.
  17. Labor Unions: People who pressed for reforms by joining together in voluntary labor associations.
  18. Partnerships: A deal where two or more people own a corporation and split the profits and debts.
  19. Richard Arkwright: Invented the spinning wheel that used moving water to power a factory.
  20. Rudolf Diesel: Invented the first internal combustion engine
  21. Samuel Morse: Invented morse code through telegraph.
  22. The Middle Class: was boosted by the industrial revolution's profits.
  23. The Wright Brothers: Invented the first flying machine in 1903.
  24. Thomas Edison: In his life he patented more than 1,000 inventions, including the light bulb and the phonograph.