Industrial Revo Vocab Flashcard

Front

A business with a family labor force using their own equipment.

Back

cottage industry

Front

Artificial waterway for boat passage

Back

canals

Front

Amount of an economic good/service consumers want

Back

demand

Front

Organizes a business venture and assumes the risk.

Back

entrepreneurship

Front

Method of production uniting workers and machines in one building.

Back

factory system

Front

Economic system where consumers and producers freely make choices.

Back

free enterprise

Front

Action of living permanently in a foreign country

Back

Immigration

Front

Economic development via factory production

Back

industrialization

Front

Creating new ideas, products, or methods

Back

Innovation

Front

Identical components that can substitute for one another, crucial in manufacturing.

Back

Interchangeable parts