| A | B |
|---|
| Industrial Revolution | the shift, beginning in England during the 18th century, from making goods by hand to making them by machines |
| enclosure | one of the fenced-in or hedged-in fields created by wealthy British landowners on land that was formerly worked by the village farmers |
| Industrialization | the development of industries for the machine production of goods |
| Factors of Production | the resources-including land, labor, and capital-that are needed to produce goods and services |
| corporation | a business owned by stockholders who share in its profits but are not personally responsible for its debts |
| Entrepreneur | a person who organizes, manages, and takes on the risks of a business |
| urbanization | the growth of cities and migration of people into them |
| middle class | a social class made up of skilled workers, professionals, businesspeople, and wealthy farmers. |
| stock | the capital raised by a business or corporation through the issue and subscription of shares |
| factory | a large building in which machinery is used to manufacture goods |
