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People centered in one place working for a certain number of hours per day for fixed pay |
factory system |
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The proletariat were |
the workers |
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Domination of production of one product or service |
monopoly |
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Wages were affected by |
-cost production |
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Because of steam-powered machinery |
workers performed one small job |
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Free enterprise and laissez-faire economies gave the most benefits to |
employers |
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The Industrial Revolution caught on quickly in the United States because |
it had natural resources and a strong government |
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The Industrial Revolution began in Great Britain because it had a favorable combination of |
-available capital |
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Groups that controlled all stages of an industry |
cartels |
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Utilitarianism |
laws were useful and could be good |
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In a capital system |
governments do not control the factors of production |
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The Factory Act of 1833 |
called for factory inspections |
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Laissez-faire economics |
means that the government does not interfere with business |
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Early factories were dependent on |
a nearby water supply |
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Marx thought |
that the workers needed to unite and overthrow the capitalist government |
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A strong central government |
was an important factor in the nations that first industrialized |
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An oversupply of workers led to |
lower wages |
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planting different crops in each field each year |
crop rotation |
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led to the creation of the railroad |
the steam engine |
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What is the purpose of business? |
to make a profit |
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Why should we be worried about population growth as it relates to food production? |
Eventually, population should outgrow food production leading to social problems. |
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Why haven't we run out of food to feed a growing population yet? |
scientific advances |
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no government interference |
laissez-faire economics |
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work for a fixed number of hours for fixed pay |
factory system |
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land, capital, and labor |
factors of production |
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producing large numbers of identical items |
mass production |
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allowed for factory inspection and enforcement of child labor laws |
Factory Act of 1833 |
