Industrial Revolution

What was urbanization? Mass movement to the city
What was socialism? Collective or government ownership of production and distribution
What did laissez-faire oppose? Government intervention in private business
What was free enterprise? Freedom of private business to compete and to operate for a profit
What was capitalism? Private ownership and distribution of goods competitively in a free market
What was collective bargaining? Negotiations between labor and management
What was the communist manifesto an important work on? Socialism
Do Communists agree with the free enterprise system? No
Do communists or socialists believe in seizing the government through peaceful means? Socialists
What gave a voice against employer abuse to factory workers? Labor Unions
What law is foundational to a laissez-faire economy? The law of supply and demand
What factors improved the lives of factory workers? Labor improvement laws, labor unions, and books by Dickens and Disraeli
What social changes resulted from the Industrial Revolution? Urbanization, Growing socialism, and poor living and working conditions
When was manual labor changed to machine? During the Industrial Revolution
What was invented that allowed efficient assembling of a product piece by piece? The assembly line
What were standardized parts? Interchangeable parts
What is a consolidation? The merger of several businesses into one
What is a monopoly? Exclusive control of a product
What are stockholders? Investors in corporations who share in the profits
Who controlled corporation practices? The Federal Trade Commission
What did factory workers have their grievances heard through? Collective bargaining
What were taxes placed on imported goods to raise their prices called? Tariffs
What were factories originally powered by? Water
Who endured the disadvantages of factory life the most? Children
What did the system of standardized parts allow? The replacing of broken or worn parts instead of replacing the whole product
Did stockholders enforce company policies? No
How did Ford’s assembly-line production effect cost per unit? It greatly reduced cost per unit
What were two major goals of corporations? Eliminate competition and increase profits
Who invented the transatlantic cable? Field
Who invented the telephone? Bell
Who invented the Clermont? Fulton
Who invented the sewing machine? Howe
Who invented standardized parts? Whitney
Who invented the Tom Thumb? Cooper
Who invented assembly line production? Ford
What European nation was the best in industry? England
Who were the main investors in early industry in the U.S.? New England Businessmen
What was the United States’ first national road called? The Cumberland Road
At the time of the civil war, was the north or the south more industrial? The north
What early European factors led to the birth of industry? The Crusades, the monasteries, and early capitalism
What gave a boost to early American industry? The Embargo act, new production methods, war, transportation and communication improvements, and new power sources
What measures controlled the practices of corporations? The Federal Trade Commission, the antitrust laws, the Clayton antitrust act, and labor laws
What types of power were available to industry in the early 1900s? Water, steam, coal, oil, and electricity
Who invented the steam engine? Watt
Who invented the reaping machine? McCormick
Who invented the airplane? The Wright brothers
Who invented the oil well? Drake
Who invented the light bulb? Edison
Who invented the printing press? Gutenberg
Who invented the flying shuttle? Kay
Who invented the spinning jenny? Hargreaves
What did monasteries set an example for? Factories
What were two raw materials needed by early industry? Cotton and Coal
Where did craftsmen usually work from before the industrial revolution? Home
What provided a faster and safer means of transporting goods? Steam locomotives
What were three basic requirements needed by a nation for industrial growth? Work force, natural resources, and sufficient capital
What were some early factors influencing the Industrial Revolution? Crusades, Monasteries, and capitalism of bankers
What were three changes brought about by the industrial revolution? Increased production, cheaper goods, and better products

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