| A | B |
|---|
| enclosure movement | Combined rural estates. |
| domestic system | Labor production done in homes. |
| entrepreneur | Businessman. |
| capital | Money to invest in labor, machines,& raw materials. |
| natural resources | Fast flowing rivers; iron one & coal. |
| John Kay | Invented flying shuttle. |
| James Hargreaves | Invented spinning jenny. |
| Richard Arkwright | Invented water frame. |
| Samuel Crompton | Invented spinning mule. |
| Edmund Cartwright | Invented power loom. |
| Eli whitney | Invented cotton gin. |
| factory system | Machine production system where managers control workers. |
| James Watt | Invented steam engine. |
| Henry Bessemer | Developed inexpensive steel production. |
| industrial capitalism | Conintuously expanding factories or investing in new business. |
| Adam Smith | Wrote WEALTH OF NATIONS. |
| capitalism | Free enterprise system. |
| laissez-faire | Government does not interfere with business production. |
| invisible hand | What smith said guided all busineeses to make the best affordable product at a profit. |
| interchangeable parts | Efficient production that began with Eli Whitney's gun assembly. |
| Frederick Taylor | Used stop watch to improve production on assembly line. |
| division of labor | Each worker performed specialized task on assembly line. |
| Henry Ford | Used assembly line for mass production of cars. |
| partnership | 2 or more share management and debt liability on a business. |
| corporation | Shareholding stockholders vote on business decision; there is limited liability. |
| depression | lowest point of the business cycle. |
| Samuel Morse | Invented telegraph. |
| Cyrus McCormack | Invented reaper. |
| Guglielmo Marconi | Invented wireless telegraph leading to radio. |
| Alexander Graham Bell | Invented telephone, hydroplane, circular kite. |
| Rudolph Diesel | Invented oil burning internal combustion engine. |
| Thomas Edison | Invented light bulb, phonograph, railroad crossing signals, the storage battery, wax paper. lazy susan. |
| Gottlieb Daimler | Invented the gasoline internal combustion engine, late 1890s. |
| Wilbur & Orville Wright | Invented airplane, 1903. |
| labor unions | Worker associations formed for better working conditions & higher wages. |
| collective bargaining | Trade union leaders and employers meet to discuss problems & reach agreement. |
| sweatshop | Place where long hours and low pay were typical. |
| Industrial Revolution | Change from hand to machine manufacturing. |
