1. Industrial Revolution Vocabulary

2. Vocabulary Breakdown In the glossary: Industrialization
Industrial Revolution
Factors of Production
Entrepreneur
Urbanization
Middle Class
Capitalism
Socialism
Communism
Strike
Union
In the text/on the board:
Agricultural Revolution pg. 283
Karl Marx pg. 302
Rural- characteristic of the countryside rather than the town
Urban- Characteristic of a city or town
Economics- The branch of knowledge concerned with the production, consumption, and transfer of wealth.

3. Industrialization
The development of industries for the machine production of goods.

4. Industrial Revolution
The shift, beginning in England during the 18th century, from making goods by hand to making them by machine.

5. Factors of Production
The resources—including land, labor, and capital—that are needed to produce goods and services

6. Entrepreneur
A person who organizes, manages, and takes on the risks of a business

7. Urbanization
The growth of cities and the migration of people into them.

8. Middle Class
A social class made up of skilled workers, professionals, businesspeople, and wealthy farmers.

9. Capitalism
An economic system based on private ownership and on the investment of money in business ventures in order to make a profit.

10. Socialism
An economic system in which the factors of production are owned by the public and operate for the welfare of all.

11. Communism
An economic system in which all means of production—land, mines, factories, railroads, and businesses—are owned by the people, private property does not exist, and all goods and services are shared equally.

12. Strike
To refuse to work in order to force an employer to meet certain demands.

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

14. Agricultural Revolution
Large landowners dramatically improved farming methods.

15. Karl Marx
Author of the Communist Manifesto, a radical type of socialism.

16. Rural
Characteristic of the countryside rather than the town.

17. Urban
Characteristic of a city or town.

18. Economics
The branch of knowledge concerned with the production, consumption, and transfer of wealth.

19. Natural Resources
Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain