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25 Terms
1
Industrial Revolution
A period of time where there was huge industrialization and was during the late 1700's and early 1800's.
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2
First nation to industrialize
Britain industrialized during the 1700's.
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3
Reasons for Britain's industrialization
They had a lot of money to invest, a lot of labor, lots of natural resources, a geographic advantage, a good climate, an educational system, a good banking system, and stable politics.
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4
Agricultural Revolution
It caused Britain to industrialize and caused an increase in population and jobs, and began selective breeding.
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5
Technological advancements in the Industrial Revolution
The water frame, spinning mule, power loom, and more were instrumental to the development.
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6
First industry affected by the Industrial Revolution
The textile industry.
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7
Cottage/Domestic System
A system where people worked at home and made goods to sell.
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8
Factory System
A system where people worked in factories.
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9
Urbanization
The movement from farmland to cities caused by job availability during the Industrial Revolution.
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10
Living conditions in cities
Very poor, slum-like conditions.
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11
Tenements
Buildings similar to apartments built to house workers.
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12
Emergence of social classes
The industrial working class emerged due to the need for workers, and the industrial middle class was made up of entrepreneurs who owned businesses.
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13
Conditions for the working class in factories
Very poor, with slum-like living conditions, little safety, abuse, and cramped quarters.
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14
Environmental consequences of the Industrial Revolution
Increased smoke and dirty water.
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15
Capitalism
A system with no government interference in the economy, believing in free competition, supply and demand, and private ownership, founded by Adam Smith.
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16
Socialism
A system where all property is owned by the community, believing in equality.
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17
Communism
Similar to socialism but calls for a revolution, founded by Karl Marx.
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18
Pros of capitalism
Goods were cheaper and more abundant, and it provided jobs.
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19
Cons of capitalism
Created poor working conditions for the working class.
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20
Luddites
People who broke into factories at night and destroyed machinery.
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21
Appeal of socialism and communism
Promised equality for everyone and provided money and basic necessities.
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22
Appeal of capitalism
Free competition and private ownership, but led to poor working conditions.
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23
Differences between socialism and communism
Communism is more extreme, calls for a revolution, and eliminates all private property, while socialism allows some private ownership.
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24
British government reforms
Made reforms to prevent revolt, including limiting child labor, setting minimum wage, and setting work hours.
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25
Economic system at the end of the Industrial Revolution
A mix between capitalism and socialism, with some government interference but not evenly distributed wealth.
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