Industrial Revolution

people, dates, terms, innovations apart of the Industrial Revolution

Industrial Revolution

Long slow process that completely changed the way goods were produced and where many people worked and lived.

Capital

Invested Money

Capitalist

Person who invests in a business

Profit

The difference between the cost of a good verse the cost of the probe when its sold

Supply

Amount of good available

Scarcity

Limited supply

Interchangeable parts

Identical Parts

Credit

Borrowed money

James Hargreaves

Developed the spinning jenny a machine that could spin several threads at  once(Made in 1764)

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

Samuel Slater

Was a skilled mechanic in a British textile mill

Mosson Brown

Was a Quaker Capitalist, had a mill in Pawtucket, Rhode Island

Eli Whitney

Was a skilled worker, wanted to make machines that made guns

Spinning Jenny

a machine that could spin several threads at  once(Made in 1764)

Loom powered by water

It allowed a worked to produce a great deal more cloth in a day than was possible before

1700’s

When the Industrial Revolution started in Britain in the mid 1700’s

1793

Slater built the first successful textile mill in the US powered by water

1812

War provided a boost to American Industries

Monopoly

One company controls an entire portion of a marketplace