Chapter 9-The Industrial Revolution

The period of time that is marked by the greatly increased output of machine-made goods that began in England in the middle 1700s.

• INDUSTRIAL REVOLUTION

• ENCLOSURES

• CROP ROTATION

• INDUSTRIALIZATION

After buying up the land of village farmers, wealthy landowners enclosed their land with fences and hedges.

• INDUSTRIAL REVOLUTION

• ENCLOSURES

• CROP ROTATION

• INDUSTRIALIZATION

The process of changing the types of food grown on a field each year.

• INDUSTRIAL REVOLUTION

• ENCLOSURES

• CROP ROTATION

• INDUSTRIALIZATION

The process of developing machine production of goods.

• INDUSTRIAL REVOLUTION

• ENCLOSURES

• CROP ROTATION

• INDUSTRIALIZATION

Land, labor, capital. Some modern economists also consider entrepreneurship

• FACTORS OF PRODUCTION

• FACTORY

• ENTREPRENEUR

• URBANIZATION

an industrial site, usually consisting of buildings and machinery, or more commonly a complex having several buildings, where workers manufacture goods or operate machines processing one product into another. All aspects of the production process are housed at one site.

• FACTORS OF PRODUCTION

• FACTORY

• ENTREPRENEUR

• URBANIZATION

the person who identifies and starts a new business venture, sourcing and organizing the required resources, while taking both the risks and rewards associated with the venture.

• FACTORS OF PRODUCTION

• FACTORY

• ENTREPRENEUR

• URBANIZATION

the increasing number of people that live in urban areas. It predominantly results in the physical growth of urban areas, be it horizontal or vertical, or both.

• FACTORS OF PRODUCTION

• FACTORY

• ENTREPRENEUR

• URBANIZATION

a class of people in the middle of a societal hierarchy. In socio-economic terms, the middle class is the broad group of people who fall socio-economically between the working class and upper class. The common measures of what constitutes the middle class vary significantly among cultures.

• MIDDLE CLASS

• STOCK

• CORPORATION

• LAISSEZ FAIRE

A portion of ownership of a corporation

• MIDDLE CLASS

• STOCK

• CORPORATION

• LAISSEZ FAIRE