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mass movement to the city =
urbanization
collective or government ownership of production and distribution =
socialism
opposed government intervention in private business =
laissez-faire
freedom of private business to compete and to operate for a profit =
free enterprise
private ownership and distribution of goods competitively in a free market =
capitalism
negotiations between labor and management =
collective bargaining
The Communist Manifesto is considered an important work on socialism.
True or False?
True
Marx and Engels wrote of the deplorable factory conditions in England.
True or False?
False
Communists agree with the free enterprise system.
True or False?
False
Communists believe in the seizure of government by peaceful means.
True or False?
False
Labor unions gave a voice against employer abuse to factory workers.
True or False?
True
The law of supply and demand is foundational to a ________________ economy.
laissez-faire
Factors improving the lives of factory workers included:
- labor unions
- labor improvement laws
- books by Dickens and Disraeli
Social changes resulting from the Industrial Revolution included:
- urbanization
- poor living and working conditions
- growing socialism
change from manual labor to machine =
Industrial Revolution
the piece by piece assembling of a product =
assembly line
interchangeable parts =
standardized parts
merger of several businesses into one =
consolidation
exclusive control of a product =
monopoly
investors in corporations who share in the profits =
stockholders
controlled corporation practices =
Federal Trade Commission
Factory workers had their grievances heard through a process called:
collective bargaining
Taxes placed on imported goods to raise their prices are called __________.
tariffs
Factories were first powered by ____________ then changed to ___________ power.
water, steam
The disadvantages of factory life were endured largely by _______________
children
Note 
Flashcard (25)