WH Chapter 13 Vocab

Front

Policy focusing on a free market with private business control?

Back

Capitalism

Front

Factors of _________?

Back

Production

Front

Economic policy where one company controls an entire industry.

Back

Monopoly

Front

Classless society where wealth is owned by the community?

Back

Communism

Front

A German philosopher who promoted communism in 1848.

Back

Karl Marx

Front

Economic system where the public owns and operates production.

Back

Socialism

Front

Movement of people to cities.

Back

Urbanization

Front

Invented the steam engine for machines, locomotives, and steamships.

Back

James Watts

Front

Someone who manages financial risks of starting a new business is an…

Back

Entrepreneur

Front

Organization of workers bargaining for better pay and conditions.

Back

Labor Union