Term
1. Agricultural Revolution
The Agricultural revolution contributed to the Industrial Revolution |
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Definition
a significant change in agriculture that occurs when there are discoveries, inventions, or new technologies, that change production
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Term
2. Bourgeoisie
The Bourgeoisie was part of the third estate. |
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Definition
the people in a society who are rich, educated, own land etc, according to Marxism
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Term
3. Capital
There was a lot of capital during the Industrial revolution. |
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Definition
money or property, especially when it is used to start a business or to produce more wealth
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Term
4. Capitalism
In free-market capitalism, there are no taxes. |
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Definition
an economic and political system in which businesses belong mostly to private owners, not to the government
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Term
5. Communism
In communism, the means of production is siezed |
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Definition
a political system in which the government controls the production of all foods and goods,and there is no privately owned property
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Term
6. Crop rotation
Crop rotation helped farmers a lot. |
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Definition
the practice of changing the crops that you grow in a field each year to preserve the good qualities in the soil
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Term
7. Economy
The economy is affected by people and governments |
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Definition
the system by which a country's money and goods are produced and used, or a country considered in this way.
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Term
8. Factors of production
The factors of production have 3 variables. |
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Definition
a collection of various resources which contribute to producing goods or services, which fall into three main groups - land, labor, and capital
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Term
9. Laissez Faire
Lazissez Faire held beliefs about government and markets |
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Definition
the principle that the government should allow the economy or private businesses to develop without any state control or influence
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Term
10. Industrialize
Countries always industrialize at one point. |
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Definition
when a country or place develops a lot of industry
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Term
11. Industrial Revolution
The Industrial Revolution lasted about 100 years for Britain. |
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Definition
the period in the 18th and 19th centuries in Europe and the USA when machines were invented and the first factories were established
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Term
12. Natural resource
Natural resources do not regenerate quickly |
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Definition
things that exist in nature and can be used by people, for example oil, trees, etc.
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Term
13. Proletariat
The Proletariat are above the peasants. |
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Definition
the class of workers who own no property and work for wages, especially in factories, building things etc - used in socialist writings
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14. Socialism
Socialism is "for the people." |
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Definition
an economic and political system in which large industries are owned by the government, and taxes are used to take some welth away from richer citizens and give it to poorer citizens
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Term
15. Subsistence
Third world countries have to rely on subsistence. |
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Definition
the condition of only just having enough money or food to stay alive.
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Term
16. Textile
Textile prices vary based on the type of textile and seller. |
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Definition
any type of woven cloth that is made in large quantities, used especially by people in the business of making clothes etc.
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