Industrial Revolution Vocab

Capital

• Wealth in the form of money or assets owned by a person or organization

• The process of transforming the economy of a nation of region from a focus on agriculture to a reliance on manufacturing

• All the basic systems that have been created in a country that allow it to function

• Identical components that can be substituted for one another

Trade Union

• Organized association of workers in a trade or profession formed to protect their rights and interests

• The working class, especially those that must sell their unskilled labor in order to survive

• A very great change in something that causes many other things to change

• A new idea, product, or way to do something

Capitalism

• An economic system in which land, factories, and other resources are owned by individuals instead of the government

• A theory of government in which the whole community, rather than individuals, owns all of its property and resources

• To make better or improve

• A government grant that gives someone the right to make, use, or sell an invention

Socialism

• A theory of government in which the whole community, rather than individuals, owns all of its property and resources

• An economic system in which land, factories, and other resources are owned by individuals instead of the government

• A way of putting together a product in a factory by moving it along a line of workers

• A method of manufacturing that uses machinery, a division of labor, and a centralized location to produce goods on a large scale

Assembly Line

• A way of putting together a product in a factory by moving it along a line of workers

• The tools, resources, and infrastructure necessary to produce goods and services in an economy

• Identical components that can be substituted for one another

• The process of transforming the economy of a nation or region from a focus on agriculture to a reliance on manufacturing

Means of Production

• The tools, resources, and infrastructure necessary to produce goods and services in an economy

• Someone who assumes the financial risk of beginning and operating one or several businesses

• A push in the 18th and 19th centuries to take land that had been owned by villagers and change it into privately owned land

• Wealth in the form of money or assets owned by a person or organization

Urbanization

• The process by which the population in cities and towns grows as people leave rural areas for urban areas

• A refusal to work organized by a body of employees as a form of protest

• An apartment building, especially one located in the poorer section of a city

• Organized system of workers in a trade or profession formed to protect their rights or interests

Interchangeable Parts

• Identical components that can be substituted for one another

• A new idea, product, or way to do something

• A very great change in something that causes many other things to change

• To make better or improve

Strike

• A refusal to work organized by a body of employees as a form of protest

• All the basic systems that have been created in a country that allow it to function

• A method of manufacturing that uses machinery, a division of labor, and a centralized location to produce goods on a large scale

• Identical components that can be substituted for one another

Tenement

• An apartment building, especially one located in the poorer section of a city

• The working class, especially those who have to sell their unskilled labor in order to survive

• A government grant that gives someone the right to make, use, or sell an invention

• The process of transforming the economy of a nation or region from a focus on agriculture to a reliance on manufacturing