Studied by 14 people
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
Note
Flashcard