History& 128 - Age of Industry Key Terms

What was the 1892 World's Fair?

• A global industrial exhibition in London showcasing technological innovations and industrial progress.

• A meeting of world leaders to discuss labor rights and industrial regulations.

• A literacy movement against industrialization.

• A political gathering advocating for socialism.

What is capitalism?

• A medieval economic model based on feudalism.

• A system in which the government owns and controls all industries.

• A movement advocating for communal living and resource sharing.

• An economic system based on private ownership, profit-driven markets, and minimal government interference.

What are the characteristics of the Industrial Revolution?

• The expansion of agriculture and reliance on traditional farming methods.

• The rise in factories, mass production, mechanization, and urbanization.

• A decline in global trade and economic segregation.

• A return to cottage industries and handmade goods.

Who were the Luddites?

• A political party advocating for capitalism.

• A religious sect that opposed industrial labor.

• A group of workers who protested against industrialization by destroying machinery.

• A movement that promoted technological advancements in factories.

How did Romantic poets respond to the Industrial Revolution.

• They criticized industrialization for destroying nature and human creativity.

• They celebrated factories and urbanization as a sign of progress.

• They ignored industrialization and focused only on historical themes.

• They wrote in favor of government regulations on industry.

What was the machine shop image?

• A photograph of factory workers protesting for better wages and working conditions.

• A representation of the technological advancements and organization of industrial production.

• A painting that romanticized agricultural life.

• A blueprint for new urban planning in industrial cities.

What was the impact of Second Industrial Revolution?

• New industries like steel, electricity, and chemicals transformed economies and societies.

• A decline in technological advancements and factory closures.

• A shift from industrial economies back to agrarian societies.

• The elimination of wage labor and the rise of the feudal practices.

Who was Samuel Smiles and what was self-help?

• A socialist thinker who argued for government intervention in industry.

• A labor union leader who fought for workers' rights.

• A writer who promoted the idea that individual effort and hard work lead to success.

• A scientist who developed theories on industrial efficiency.

What is the Iron Law of Wages?

• A theory suggests that wages will always tend to stay at a level just high enough to sustain workers.

• A law mandating a minimum wage for industrial workers.

• A regulation controlling iron production during the industrial revolution.

• A government policy that set fixed wages for all jobs.

What is finance capital?

• The capital cities where financial institutions were established.

• Investment in industries, banks, and businesses to drive economic growth and expansion.

• The money given by the government to fund industrial projects.

• A system where workers directly own the factories they work in.