Industrial Revolution Vocabulary

Agrarian/Agricultural Revolution

• A period in the early 1700’s when there was an increase in the effectiveness of farming

Rural

• Country

Enclosure• The purchasing and

combination of many small farms buy a single owner

• Forces many to move to the cities

• Allows for experimentation in farming

Urban

• city

Urbanization

• The growth of cities as well as people moving to the cities

Industrialization

• The growth of factories

Industrial Revolution

• A period beginning in the mid 1700’s when the production of goods shifted from hand made to machine made

Factors of Production

• Things needed for successful industrialization

• Land, Labor, and Capital!

Natural Resources

• Materials in the environment which can be used for production; wood, gas, oil, rivers

Union

• A group of workers joined together to fight for better wages & working conditions

Laissez Faire

• Idea that the government should not interfere with the economy (hands off)

Economy

• Money system

Free Market Economy/Capitalism

• An economic system based on supply and demand

Socialism/Mixed Economy

• Economic system with both private and government run businesses

Command Economy/Communism• Economy

where all economic decisions are made by the government