Term
| Why did the Industrial Revolution begin in England? |
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Definition
| England had an agricultural revolution (more food), many natural resources, money, and a large labor supply. |
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Term
| Which came first in England? The Industrial Revolution, or an Agricultural Revolution? |
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Definition
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Term
| The factory system replaced the domestic system. Why was the domestic system ineffective? |
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Definition
| It was slow, and complex, and there were too many middle men |
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Term
| The growth of cities helped industrialization thrive. What was the growth of cities called? |
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Definition
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Term
| How did steamboats and railroads transform industrialization? |
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Definition
| Improved tansportation and promoted the factory system |
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Term
| Poor workng conditions, unsafe machinery, child labor, poor ventilation, pollution, and very low wages are all negative effects of? |
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Definition
| Factories, or industrialization |
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Term
| Which of the following was a long-term positive effect of industrialization? |
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Definition
| An overall rise in the standard of living |
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Term
| What happened to the middle class during the Industrial Revolution? |
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Definition
| They grew in size, gained wealth, and status |
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Term
| How did workers respond to unsafe working conditions in the late 1800's? |
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Definition
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Term
| What is another name for a capitalist economy? |
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Definition
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Term
| What is they key principle of a free market (capitalist) economy? |
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Definition
| The law of supply and demand |
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Term
What does laissez-faire capitalism mean?
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Definition
| "hands off"-No government interference in the business cycle |
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Term
| Which event had the greatest ipact on the laissez-faire capitalism? |
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Definition
| The Industrial Revolution |
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Term
| What economic system did Karl Marx support? |
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Definition
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Term
| What is another name for a socialist economy? |
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Definition
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Term
| Socialism was a reaction to the horrors of? |
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Definition
| Industrialization and capitalism |
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Term
| Karl Marx believed communism would arise through a series of? |
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Definition
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Term
| No private property, and no private industry occurs in which type of economy? |
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Definition
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Term
| The determination of all wages by the goverment, and the government (state) setting the price of consumer goods occurs in which economy? |
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Definition
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Term
| Karl Marx encouraged workers (the proletariat) to? |
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Definition
| Revolt, and overthrow the capitalist cycle |
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