Industrial revolution

Industrial revolution

A period of rapid industrial growth and technological advancement that began in the late 18th century, characterized by the shift from agrarian economies to industrialized ones, increased factory production, and significant socioeconomic changes.

Industrial diffusion

The spread of industrialization and its technologies across different regions and countries, often leading to economic growth and changes in society.

Fossil fuels

Natural resources like coal, oil, and natural gas that are used for energy production and industrial processes.

Crude oil

a liquid fossil fuel derived from the remains of ancient marine organisms, primarily used for energy, fuel, and as a raw material for various chemical products.

Rural to urban migration

is the movement of people from countryside areas to cities, often in search of better job opportunities and living conditions, spurred by industrialization.

Social class

A division of society based on socioeconomic status, often influenced by wealth, education, and occupation.

Commercial farmers

are individuals or businesses engaged in the large-scale production of crops or livestock for sale in the market, often utilizing advanced agricultural techniques and equipment.

Wage labor

A system where workers are paid a set amount for their labor, often in a permanent or temporary employment arrangement, critical to industrial economies.

Working class

The social class comprising individuals who primarily earn a living through manual labor or service jobs, typically with lower economic status and limited wealth compared to the upper classes.

Capitalist class

The social class that owns the means of production and derives their income from investments, businesses, and property, often characterized by significant economic power and influence over social and economic policies.

Middle class

A social class situated between the working class and the capitalist class, often associated with professionals, entrepreneurs, and individuals with moderate wealth.

Labor unions

Organizations formed by workers to collectively promote their rights, negotiate wages, and improve working conditions within industries.

Mass production

The manufacturing process in which goods are produced in large quantities using standardized methods and machinery, significantly reducing costs and increasing efficiency.

Assembly line

A production method where products are assembled in a sequential manner as they move along a conveyor belt, enabling mass production and efficiency.

Markets

places where goods and services are bought and sold, influencing supply and demand.

Mass consumption

The widespread purchase and use of goods by the general population, often driven by mass production and advertising.

International division of labor

the allocation of different production processes across various countries to optimize efficiency and reduce costs.

Impearlism

A policy or practice where a nation extends its power and influence over other countries or territories, often through colonization, military intervention, or economic domination.

Industrial sectors

The various divisions of the economy engaged in different types of production, such as manufacturing, agriculture, and services.

Primary sector

The part of the economy that involves the extraction of natural resources, such as agriculture, mining, forestry, and fishing.

Secondary sector

The segment of the economy that processes raw materials into finished goods and includes manufacturing and construction.

Tertiary sector

The sector of the economy that provides services rather than goods, including retail, healthcare, education, and entertainment.

Quaternary sector

The sector of the economy that focuses on knowledge-based services, including research, development, information technology, and consulting.

Quinary sector

The sector of the economy that focuses on high-level decision making and services such as healthcare, education, and government, typically involving non-profit and voluntary activities.

Base industries

The fundamental industries that supply raw materials for other sectors, such as agriculture, mining, and manufacturing.

Uneven development

A concept in economic geography that describes the disparity in economic growth and development between different regions or countries, often resulting in significant inequalities.

Peripheral country

A country that is less economically developed and often dependent on the more developed core countries for resources and trade.

Peripheral country sector

The sector of an economy in peripheral countries that primarily focuses on resource extraction and production for export to core countries, often characterized by low wages and limited technological advancement.

Core country

A highly developed country that has a strong economy, advanced technological infrastructure, and significant political influence. Core countries often dominate global trade and maintain a high standard of living.

Core country sectors

The sectors of an economy in core countries that are more technologically advanced and focused on high-value services and manufacturing, driving global economic growth.

Semi-peripherary

Countries that are between peripheral and core countries, exhibiting characteristics of both. They often have emerging economies and play a role in global trade.

Break of bulk point

A location where goods are transferred from one mode of transportation to another, facilitating trade and distribution.

Containerization

The system of using standard-sized containers for cargo transport which enhances shipping efficiency, reduces costs, and streamlines global trade.

Least-cost theory

A principle in economics that suggests businesses will locate their operations at the lowest cost possible, minimizing transportation and production expenses.