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Industrial Revolution
The shift from making goods by hand to making them by machine that started in England in the 1700s
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Enclosure Movement
A movement which enclosed farming land created by British wealthy land-owners
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Crop Rotation
The system of growing a different crop in a field each year to preserve the fertility of the land
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Industrialization
The development of industries for the machine production of goods.
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Factors of Production
The resources(land, labor, and capital) needed to produce goods and services
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Factory
A large building in which machinery is used to manufacture goods
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Entrepreneur
A person who organizes, manages, and takes on the risks of a business
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Urbanization
The growth of cities and the migration of people into them
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Middle Class
A social class made up of skilled workers, professionals, businesspeople, and wealthy farmers
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Stocks
Certain rights of ownership. The people who bought stock became part owners of corporations
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Corporation
A business owned by stockholders who share in its profits, but are not personally responsible for its debts
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Laissez-Faire
The idea that government should not interfere with or regulate industries and businesses
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Adam Smith
A professor at the university of Glasgow who defended the idea of a free economy. His arguments were 3 natural laws of economics. He began the invisible hand
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Capitalism
An economic system based on private ownership and on the investment of money in business ventures in order to make a profit
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Socialism
An economic system in which the factors of production are owned by the public and operate for the welfare of all
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Karl Marx
A German journalist who introduced the world to a radical type of socialism called Marxism
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Communism
An economic system in which all means of production-land, mines, factories, railroads, and businesses- are owned by the people, private property does not exist, and all goods and services are shaped equally
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Assembly Line
In a factory, an arrangement in whicha product is moved from worker to worker, with each person performing a single task in its manufacture
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Theory of Evolution
The idea, proposed by Charles Darwin in 1859, that species of plants and animals arise by means of a process of natural selection
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Radioactivity
A form of energy released as atoms decay
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Imperialism
A policy in which a strong nation seeks to dominate other countries politically, economically, or socially
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Racism
The belief that one race is superior to others
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Social Darwinism
The application of Charles Darwin's ideas about evolution and "survival of the fittest" to human societies-particularly as justification for imperialist expansion
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Berlin Conference
A meeting in 1884-1885 at which representativesof European nations agreed upon rules for the European colonization of Africa
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Paternalism
A policy of treating subject people as if they were children, providing for their needs but not giving them rights
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Colony
A land controlled by other nation
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Protectorate
A form of imperialism in which a country or a territory has its own internal governent but under the control of an outside power
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Sphere of Influence
A foreign region in which a nation has control over trade and other economic activities
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Economic Imperialism
An independent but less developed country controlled by private business interests rather than other governments
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Assimilation
A policy in which a nation forces or encourages a subject people to adopt its institutions and costums
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Geopolitics
A foreign policy based on a consideration of the strategic locations or products of other lands
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Jewel in the Crown
The British colony of India-so called because of its importance in the British Empire, both as a supplier of raw materials and as a market for British trade goods
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