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Final study guide questions on Industrial Revolution, industrial revolution and the rise of big business, colonialism, and the trans- Atlantic slave trade
What shifts in society made up the Industrial Revolution?
Production: hand tools- machines
Energy: manual power- fossil fuels
Workers: farms- factories
Populations: towns- cities
Wealth: kings- business owners
Health: standards improved dramatically
Trade: neighbour's- international markets
Market economics
You. Me. Everyone. The consumer. More people you sell to= higher profits
What changed in agriculture that started the Industrial Revolution
Improved soil quality
Inventions making crop production more affordable
Knowledge to use land more efficiently
The factory system
Workers and machines joined into one building to mass produce goods, which were then traded internationally for massive profits
Leaps forward in transportation
The new development in power sparked rapid improvements in transportation, such as canals, railways, and shipping
Nations that industrialized rapidly in Europe
Belgium, Netherlands, Germany, France, Britain/England
Capitalism
The economic system that the world works within. People, businesses, corporations, and companies are all in a competition for capital
Benefits of capitalism/market economics
Material well-being
Technology continually improves
Social mobility – you could move up in social class
Financial reward for those that succeeded.
Competition brings down prices
Variety of quality.
Food, Clothing, etc. is always in supply
Standard of living for those with good jobs raises dramatically.
Career and economic opportunities
Negatives of capitalism/market economics
Exploitation of workers, paid as little as possible
Child, labor, and slave slavery
Environmental disasters (fossil fuels and litter)
Over consumption of resources.
People are most selfish because they have to compete for money
Specialization
Becoming a specialist at one specific task
Luddism
Workers who snapped while working long hours, specialized tasks, with little recognition or reward
Colonialism
The domination of one country over political in economic life of another country/region
Why was Africa a target of European Countries and business men?
Because it had no nations, armies, or national boundaries and had vast resources, healthy large population, and few educated representatives that could argue against them
Nationalism
A belief that involves citizens identifying with one’s nation, the nation seeks to strengthen itself through all levels of life: education, protection, sports, etc.
What can we learn about explorers of this age?
In the industrialized world, nations competed with other Nations to acquire new resources, markets, a cheap workforce. Human rights is not a concept by which European governments function during this age
Three steps of the triangular trade?
1- European slave traders would acquire slaves in exchange for weapon/luxury goods, allowing European companies and countries to stay clear of the actual slave trade
2- middle passage: Slave, traders, transport slaves across oceans to islands in Central America
3-Europe benefits from massive payments from slaves and buying the product slaves make in the Americas at a cheap price
Results of colonialism/slave trade in Africa
1- Africa was divided into new boundaries and then left to rule democratically even while European corporation had and still owns almost all resources in African nations
2- When Europeans left Africa in the 1900s, vicious, power struggles waged for the new African countries
3-The slave trade displaced approximately 10 million Africans to the Americas