Industrial Revolution - Summary

What did they do with the raw materials?

They sent it to the factory owners so that they could be turned into goods and could be sold.

What did factory owners do to make a lot of money?

To make as much money as possible, factory owners looked for ways to cut production costs and increase profits.

What was capitalism?

When people control the economy and what is bought and sold (from you)

What new machines and ideas became popular during the Industrial Revolution?

- Inventions - Textile - Steam Engine - Steamboat - Interchange - Mass - Canal - Railroad

Why did the Industrial Revolution begin in England?

- The technology used in Agriculture started to get better so there was a surplus of food and crops. - Since England was a colnial power, it had a lot of natural resources (coal) which they got from their colonies.

What was urbanization?

A surplus in agriculture

Socialism

A system in which society, usually in the form of the government, owns and controls the means of production.

Communism

A theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.

agricultural revolution

A time when new inventions such as the seed drill and the steel plow made farming easier and faster. The production of food rose dramatically.

Unions

An association of workers, formed to bargain for better working conditions and higher wages.

Capitalism

An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, esp. as contrasted to cooperatively or state-owned means of wealth.

Where did the Industrial Revolution begin?

England

Where did England and other countries get raw materials?

From their colonies

Where did the Industrial Revolution spread after beginning in England?

Germany- they wanted more advanced weapons; Paris

Who popularized socialism?

Kari Marx and Friedrich Engels

Factors of production

Land, labor, and capital; the three groups of resources that are used to make all goods and services

What is manufacturing?

Manufacturing is when you are turning raw materials into goods that can be sold for a profit.

What economic system became popular at the end of the Age of Exploration and Colonization?

Mercantilism

Where were the goods manufactured during the Industrial Revolution?

Mills and factories

Enclosures

One of the fenced-in or hedged-in fields created by wealthy British landowners on land that was formerly worked by village farmers.

What was a major problem caused by urbanization?

Overcrowding and pollution

What are raw materials?

Raw materials are goods that could be turned into something else.

What is socialism?

Socialism is the economic system in which the people control production and distribution through the government and then the people share the profits. Under socialism, everything and everyone was equal.

What industry experienced the Industrial Revolution first?

The Textile Industry

What is communism?

Communism an economic system that is the end result of socialist changes.

What was the textile industry like before the Industrial Revolution?

Before the industrial revolution, textile was made by cottage industries which were family run businesses. They were hand made and expensive.

What was the industry like before the industrial revolution?

The industry business was mostly ran by cottage industries which were family run businesses.