Industrial Revolution Vocabulary – 0304a

capital - stuff used to make other stuff; money pooled for investment

capitalism - an economic system where factories and resources are owned and controlled by private entities as opposed to the government or community, by investments that are run by private interests, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market

communism - an economic system where factories and resources are owned and controlled by the government or the community, where prices, production, and the distribution of goods are controlled by the government, and where all members of the community are supposed to receive an equal share of the society's wealth

conservative - a person who prefers maintain the status quo, someone opposed to unwise innovation

enclosure - to put up fences around a piece of previously communally owned land and make it private

entrepreneur - a business risk-taker, someone who uses money and resources to make more money

exploitation - to take advantage of, to use for one's own gain rather than in the interest of the person or thing being used

industrialization - to move to a form of economy characterized by large-scale production of goods in factories

monopoly - when one company controls a particular market

obsolete - no longer useful, out of date

oligopoly - when a few companies conspire to control a particular market

oppression - unjust or cruel exercise of authority or power, something that presses down on someone, especially an unjust or excessive exercise of power

proletariat - the working class

radical - tending or disposed to make extreme changes in existing views, habits, conditions, or institutions

plain list

capital

capitalism

communism

conservative

enclosure

entrepreneur

exploitation

industrialization

monopoly

obsolete

oligopoly

oppression

proletariat

radical