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