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industrial revolution

A period of rapid industrial growth and technological advancement that began in the late 18th century, transforming economies from agrarian to industrial and leading to significant social changes.

industrialization

The process of developing industries in a country or region, characterized by the transition from manual labor to machinery and the expansion of factories and urban centers.

urbanization

The process by which rural areas transform into urban areas, often due to migration from rural to urban locations, leading to increased population density and changes in lifestyle.

means of production

The facilities and resources for producing goods, including factories, machinery, and tools, which are essential for industrial production.

entrepreneur

An individual who creates, organizes, and operates a business, taking on financial risks in the hope of profit. Entrepreneurs often drive innovation and economic growth by introducing new products or services.

textile

related to the fabric and clothing industry, involving the production of fibers, yarns, and finished textiles.

proletariat

The working class who sell their labor to the bourgeoisie for wages, often lacking ownership of the means of production.

capitalism

An economic system characterized by private ownership of the means of production, where individuals or businesses operate for profit in a competitive marketplace.

socialism

An economic system in which the means of production are owned by the public and operate for the welfare of all

Communism

A form of complete socialism in which the means of production—all land, mines, factories, transportation, and businesses—would be owned by the people. Private property (factories and the other means of production; not personal property) would cease to exist; all goods and services would be shared equally.

Labor Union

An organized association of workers, often in a trade or profession, formed to protect and further their rights and interests.