Industrial Rev VOcab

What is the term for the process of developing industries in a country or region on a wide scale?

• Urbanization

• Industrialization

• Mechanization

• Capitalism

Which invention used steam power to drive machinery and transformed transportation and factory production?

• Assembly Line

• Steam Engine

• Interchangeable Parts

• Railroad

Identify the economic system where private individuals or businesses own capital goods, and production is based on supply and demand.

• Socialism

• Capitalism

• Communism

• Feudalism

Explain how the factory system changed the production of goods during the Industrial Revolution.

• It allowed goods to be produced at home using hand tools.

• It centralized production by bringing workers and machines together in one place.

• It relied solely on manual labor without the use of machinery.

• It decreased the efficiency of production processes.

How did the use of interchangeable parts revolutionize manufacturing processes?

• By making each product unique and handcrafted.

• By allowing parts to be easily replaced and assembled.

• By reducing the need for skilled labor.

• By increasing the cost of production.

Analyze the impact of urbanization on rural communities during the Industrial Revolution.

• It led to a decrease in agricultural production.

• It caused a decline in urban populations.

• It resulted in the growth of rural areas.

• It increased the demand for rural labor.

What role did entrepreneurs play during the Industrial Revolution?

• They primarily worked as laborers in factories.

• They started and ran businesses, often taking financial risks.

• They opposed the use of machinery in production.

• They focused on agricultural development.

Describe the concept of laissez-faire economics as promoted by Adam Smith.

• Government should heavily regulate economic affairs.

• Government should not interfere in economic affairs beyond protecting life and property.

• Government should own all means of production.

• Government should control supply and demand.

Evaluate the reasons why Luddites opposed the use of machinery during the Industrial Revolution.

• They believed machinery improved their working conditions.

• They thought machinery threatened their jobs and livelihoods.

• They wanted to promote technological advancement.

• They were in favor of increased industrialization.

What is the primary difference between capitalism and socialism in terms of ownership of the means of production?

• In capitalism, the government owns the means of production.

• In socialism, private individuals own the means of production.

• In capitalism, private individuals own the means of production.

• In socialism, there is no ownership of the means of production.