Chapter 20 World History Test – Flashcards
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Cartel
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An association to fix prices, set production quotas, or control markets
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Interchangeable parts
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Identical compenents that could be used in place of one another
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Assembly line
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Production method that breaks down a complex job into a series of smaller tasks
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Labor unions
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Workers organizations who won the right to bargain with employers for better wages, hours and working conditions
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Urbanization
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The movement of people to cities
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Corporation
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Businesses that are owners by many investors who buy shares of stock
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Enclosure
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The process of taking over and fencing off land formerly shared by peasant farmers
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Factories
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Places that brought together workers and machines to produce large quantities of goods
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Utilitarianism
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The idea that the goal of society should be "the greatest happiness for the greatest number" of its citizens
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Socialism
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System in which the people as a whole rather than private individuals own all property and operate all businesses
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Means of production
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Farms, factories, railways, and other large businesses that produce and distribute goods
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laissez-faire
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Policy allowing business to operate with little or no government interference
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Turnpike
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Privately built road that charges a fee to travelers who use it
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Tenements
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Multistory building divided into crowded apartments
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Communism
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Form of socialism advocated by Karl Marx; according to Marx, class struggle was inevitable and would lead to the creation of a classless society in which all wealth and property would be owned by the community as a whole
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Proletariat
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Working class
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Karl Marx
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German philosopher who wanted communism, condemned the ideas of utopians, and believed the working class would unite
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The communist manifesto
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Marx theorizing that economics was the driving force in history between the haves and have nots
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Adam Smith
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Main prophet of laissez fair me economics and asserted that a free market would come to help everyone and not just the rich
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Malthus
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Predicted that population would outpace the food supply and urged families to have fewer children
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David Ricardo
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Also believed people had too many children and pointed out in his iron law of wages that when wages were high families had more children
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Robert Owen
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Poor welsh boy tuned successful mill owner who refused child labor, and thorough New Lanark, showed that an employer can offer decent living and working conditions and still run a profitable business
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James watt
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Scottish engineer who improved the steam engine which became a key power source during the IR
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Jeremy Bentham
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Preached utilitarianism and believed all laws or actions should be judged by there utility
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Abraham Darby
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Used coal to separate or smelt iron from its ore and removed the impurities from coal. His son and grandson continued to improve his methods
