History Vocab: Quiz 3

Agricultural Revolution

a period of significant advancements in farming techniques that led to a major increase in food production and allowed humans to transition from hunter-gatherer lifestyles to settled communities.

Adam Smith

Economist and Philosopher

Capitalism

an economic system where individuals and businesses own and control the means of production, like factories and equipment, with the goal of making a profit.

Laissez Faire

"let it be" or "hands-off." It describes a policy where the government or a leader avoids interfering with a situation, especially in economics, allowing businesses or individuals to operate without excessive regulation or control.

Communism

a type of government as well as an economic system (a way of creating and sharing wealth).

Industrial Revolution

a period of major changes in technology and society, primarily in the 18th and 19th centuries.

Factory Act of 1833

a British law that regulated the employment of children

no child workers under nine years of age.

Innovations During the Industrial Revolution

the use of new basic materials, Iron and steel

Labor Union

a group of employees that organize to improve their salary, benefits, and working conditions.

Proletariat

the working class or the "lower class" in a capitalist society.

Bourgeois

characteristic of the middle class.

Karl Marx

philosopher, economist. He is famous for his theories about capitalism, socialism, and communism.

The communist Manifesto

written by Karl Marx and Friedrich Engels about their theory of communism and a call to action for the working class to overthrow capitalism and establish a classless society

Irish Potato Famine

a period of starvation, disease and emigration