Industrialization Review

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What was the Industrial Revolution?

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The Industrial Revolution was a period of major industrialization during the late 18th and early 19th centuries, characterized by the transition from hand production methods to machines, the growth of factories, and significant changes in society and the economy.

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What are the Key Factors of Industrialization?

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Natural Resources, Human Resources (Labor), Capital (Investment), New Technology, Transportation (Railroads), Consumers, High Tariffs, Free Enterprise, Decreased Native Attacks, Farming and Ranching.

Front

Define Natural Resources in the context of Industrialization.

Back

Raw materials such as coal, iron, oil, and timber that are necessary for industrial production.

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Define Human Resources (Labor) in the context of Industrialization.

Back

The workforce available for employment in factories and industries.

Front

Define Capital (Investment) in the context of Industrialization.

Back

Financial resources or assets that are used to fund the establishment and expansion of businesses and industries.

Front

What is New Technology in the context of Industrialization?

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Innovations and advancements in machinery and production techniques that increased efficiency and productivity.

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What role did Transportation (Railroads) play in Industrialization?

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Facilitated the movement of goods and resources across vast distances, connecting producers and consumers.

Front

Who are Consumers in the context of Industrialization?

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The population that purchases goods and services.

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What are High Tariffs?

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Taxes imposed on imported goods to protect domestic industries from foreign competition.

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What is Free Enterprise?

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An economic system where private individuals or businesses have the freedom to operate and compete with minimal government interference.