Industrial Revolution Review
Terms in this set (17)
An economic system based on wage labor (working for a wage), private ownership of the means of production (factories, machinery..), and production for exchange and profit.
An economic system where the means of production, such as money and other forms of capital, are owned by the state (the government) or public.
A political/government system derived from Karl Marx, advocating class war and leading to a society in which all property is owned by the government and each person works and is paid according to their needs.
Literally "let it be," it's a policy of letting things take their own course, without government interfering.
an umbrella term for all economic systems in which economic decisions and the pricing of goods and services are guided solely by the country's individual citizens and busnesses
social process where cities grow and societies become more urban
a negative aspect or condition that motivates one to leave
use of land become restricted to the owner and stopped being common land for all people.
the large-scale introduction of manufacturing, advanced technical enterprises, and other productive economic activity into an area, society, country, etc.
gain money or material
farming; the cultivating of the soil, producing of crops, and raising of livestock.
Causes of Industrialization
Agricultural Revolution, population growth, capital, natural resources, new markets.
Effects of Industrialization
Growth of cities and population, pollution, interdependence, capitalism, socialism, communism.
A positive aspect that motivates someone to come to a place.