History chapter 16 and 17 vocab

Industrial Revolution

beginning in the late 1700s, a period in which mechanical power replaced muscle power for the production of goods

**productivity**

the amount of goods or services that result for each unit of required resources used (output per unit of input)

interchangeable parts

parts that can be swapped for one another in the assembling of a product, because they have been precisely cut and shaped to be identical

Bessemer process

a relatively inexpensive method for converting iron to steel by using a blast of air to remove carbon from molten iron

domestic system

a pre-industrial system of manufacturing in which workers crafted products in their homes using raw materials supplied by merchants

**factory system**

an industrial system of manufacturing in which workers, raw materials, and machinery are gathered under the same roof

**mass production**

the high-volume, low-cost manufacture of identical items through the use of specialization and interchangeable parts

enclosure

the repossession and fencing-in by landowners of formerly common lands, often for the purpose of commercial farming

**capitalism**

an economic system, based on the premise of self-interest, in which all resources are privately owned and markets determine how those resources are distributed

monopoly

complete control by one firm of the production and/or the supply of a good

**urbanization**

the process of turning a rural area or village into a town or city

**labor union**

an organization formed by workers to represent them in negotiations with employers concerning employment issues

strike

an agreement among workers to stop working in order to force an employer to improve wages, hours, benefits, or working conditions

**imperialism**

a policy in which a state takes political and economic control of areas beyond its borders

racist

based on prejudices related to racial differences

**sphere of influence**

an area within which the political and economic interests of one nation are more important than those of other nations

**hegemony**

indirect social, political, or economic influence exerted by a dominant state

partitioned

divide a region into separate political units

**capital**

the tools, machines, and buildings used to produce goods and services

Monroe Doctrine

a U.S. foreign policy focused on keeping European powers from controlling any Latin American nation

**Roosevelt Corollary**

an extension of the Monroe Doctrine declaring that the United States would police unstable Latin American debtor nations; also known as the Big Stick Policy

**infrastructure**

**large-scale transportation, communication, and other systems that support economic activity**