Term
1. Agricultural Revolution
The Agricultural Revolution changed the way of life for many people when it came to farming, making things, eating, etc. |
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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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2. Bourgeoisie
The Bourgeoisie were a 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
I owned a part of the capital because I got promoted. |
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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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4. Capitalism
Capitalism proved to be inefficient until the Industrial Revolution began. |
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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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5. Communism
Communism is practiced in China. |
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Definition
a political system in which the government controls the production of all food and goods, and there is no privately owned property
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6. Crop Rotation
Crop rotation proved to be a new efficient way to reserve the good soil. |
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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
China has a rising economy due to its success in the past years. |
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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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8. Factors of Production
Some different factors of production include enterprise and natural resources. |
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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
Laissez-Faire proved to be inefficient after businesses were going bankrupt. |
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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
Europe was the first continent to industrialize itself in the Industrial Revolution. |
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Definition
when a country or place develops a lot of industry
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Term
11. Natural Resource
Natural Resources were abundant and used often during the Agricultural and Industrial revolution. |
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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
12. Proletariat
The proletariat had to leave their homes in order to work at the new factories that were built. |
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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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Term
13. Socialism
Socialism is commonly practiced in wealthier countries. |
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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 wealth away from richer citizens and give it to poorer citizens
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Term
14. Subsistence
Subsistence was common among families with small incomes. |
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Definition
the condition of only just having enough money or food to stay alive
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15. Textile
Textile goods were commonly produced during the Industrial Revolution. |
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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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Term
16. Industrial Revolution
The Industrial Revolution continues to change our way of life by creating more advances in technology. |
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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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