Industrial Revolution Vocab

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

Reform

• To make better or improve

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

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

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

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

Proletariat

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

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

• 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

Patent

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

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

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

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

Enclosure Movement

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

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

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

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

Innovation

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

• To make better or improve

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

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

Revolution

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

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

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

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

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

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