The Beginning of Industrialization

1. Industrial Revolution- greatly increased output of machine-made goods

Enclosure- large areas of land closed off with fences or hedges
Crop rotation- rotating crops during different times to restore the soils nutrients
Industrialization- developing machine production of goods
Factors of production- resources needed to produce goods and services
Factory- Large buildings with lots of machinery
Entrepreneur- a person who organizes, manages, and takes on the risks of a business
2. When they figured out a way to make steam engines faster and more useful. This
was the most important because the idea helped the engine advance even more
through the years and is still used today.
3. Political stability, Natural resource, Large population, Expanding economy
4. They had more workers available
5. The cotton gin

Industrialization
1. Urbanization- city building and the movement of people to cities
Middle class- made up of skilled workers, professionals, businesspeople, and wealthy
farmers
2. The change in social classes because the people now had more jobs and moved
up
3. Because there was more work available in those areas
4. The middle class expanded
5. Diseases spread easier, more child labor, the river was poisoned from pollution

Industrialization spreads
1. Stock- certain right of ownership to a business
Corporation- business owned by stockholders, they earn profit but aren't in the
company's debt
2. Development of the industrial revolution
3. Textile industry, shoemaking cloth manufacturing
4. rich deposits of iron ore and coal, waterways for transportation, British skilled
workers
5. Increased competition around the world, gave some workers more money but
also took money and resources from less developed countries

Reforming the Industrial World

1. Laissez faire- letting owners of industry and business set working conditions
without interference
Adam Smith- Professor in Scotland who wrote a book on the ideas of a free
economy/ree markets
Capitalism- Private ownership of businesses, used to profit individuals
Utilitarianism- people should judge ideas, institutions, and actions on the basis of their
utility/usefulness
Socialism- production is owned by the public and operate for the welfare of all
Karl Marx- German journalist that introduced the world to a radical type of socialism
called Marxism
Communism- All production is owned by the people
Union- workers joined together in voluntary labor associations
Strike- Union members refusing to work
2. They are both run by the people
3. Self-interest: people work for themselves
Competition: forces people to make better products
Supply and Demand: produce enough good at the lowest cost to meet market economy
demand
4. Utilitarianism
5. To protest again their working conditions