Industrial Revolution
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people, dates, terms, innovations apart of the Industrial Revolution
Last updated 7:02 PM on 12/14/22
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20 Terms
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Industrial Revolution
Long slow process that completely changed the way goods were produced and where many people worked and lived.
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Capital
Invested Money
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Capitalist
Person who invests in a business
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Profit
The difference between the cost of a good verse the cost of the probe when its sold
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Supply
Amount of good available
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Scarcity
Limited supply
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Interchangeable parts
Identical Parts
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Credit
Borrowed money
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James Hargreaves
Developed the spinning jenny a machine that could spin several threads at once(Made in 1764)
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Edmund Cartwright
Built a loom powered by water. It allowed a worked to produce a great deal more cloth in a day than was possible before
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Samuel Slater
Was a skilled mechanic in a British textile mill
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Mosson Brown
Was a Quaker Capitalist, had a mill in Pawtucket, Rhode Island
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Eli Whitney
Was a skilled worker, wanted to make machines that made guns
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Spinning Jenny
a machine that could spin several threads at once(Made in 1764)
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Loom powered by water
It allowed a worked to produce a great deal more cloth in a day than was possible before
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1700’s
When the Industrial Revolution started in Britain in the mid 1700’s
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1793
Slater built the first successful textile mill in the US powered by water
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1812
War provided a boost to American Industries
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Monopoly
One company controls an entire portion of a marketplace
