| Opposed government intervention in private businesses | Laissez-faire |
| Negotiations between labor and management | Collective-bargaining |
| Private ownership and distribution of goods competitively in a free market | Capitalism |
| Collective or government ownership of production and distribution | Socialism |
| Mass movement to the city | Urbanization |
| Freedom of private businesses to compete and operate for profit | Free enterprise |
| Is considered an important work on socialism: | Communist manifesto |
| Wrote of the deplorable factory conditions in England | Dickens and Disraeli |
| Don’t agree with the free enterprise system: | Communists |
| Believe in the seizure of government by violent means: | Communists |
| Gave a voice against employer abuse to factory workers: | Labor unions |
| The law of supply and demand is foundational to a: | Laissez-faire economy |
| Factors improving the lives of factory workers included: | Labor improvement laws, labor unions, books by dickens and Disraeli |
| Social changes resulting from the industrial revolution included: | Urbanization, growing socialism, and poor living and working conditions |
| Investors in corporations who share in the profits | Stockholders |
| Interchangeable parts | Standardized parts |
| Merger of several businesses into one | Consolidation |
| Controlled corporation practices | Federal trade commission |
| Exclusive control of a product | Monopoly |
| The piece by piece assembling of a product | Assembly-line |
| Change from manual labor to machine | Industrial revolution |
| Factory workers had their grievances heard through a process called: | Collective bargaining |
| Taxes placed on imported goods to raise their prices are called: | Tariffs |
| Factories were first powered by_______________ then changed to _____________power | Water; steam |
| Disadvantages of factory life were endured largely by: | Children |
Ch. 7 Quiz #3
June 12, 2020