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| practice of fencing or enclosing common lands into individual holdings. |
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| the practice of alternating crops of different kinds to preserve soil fertility. |
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| Term for changes beginning in the 1700s, when powerdriven machines began to do much of the work that people had done before. |
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| Basic resources for industrialization, such as necessary land, capital, and labor. |
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| use of automatic machinery to increase production. |
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| production of goods in a factory through the use of machines and a large number of workers. |
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| process of treating rubber to make it more useful. |
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| cramped, shabby apartment buildings where workers lived during the Industrial Revolution in England. |
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| Economic system in which individuals, rather than governments, control the factors of production. |
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| Early economic system in which most capitalists were merchants who bought and sold goods. |
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| Type of capitalism that began during the Industrial Revolution when capitalists were involved in producing and manufacturing goods themselves, often using mechanized and industrial methods of production. |
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| identical parts that can replace each other. |
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| System of producing large numbers of identical items. |
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| Businesses that allow people to buy stock in the company. |
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| Complete control of the production or sale of a single good or service by a single firm. |
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| Corporate combinations that control entire industries. |
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| Alternating periods of prosperity and decline. |
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| Period in which the decreased demand of goods causes the entire economy to sink. |
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| System in which economic forces work automatically and naturally, without mercantilist laws and regulations. |
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| belief that government should not interfere with the operations of businesses. |
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| People who work to improve the conditions of others. |
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| Belief that a law was useful if it led to "the greatest happiness of the greatest number" of people. |
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| Refusal of workers to work until their demands are met. |
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| Associations of workers that combine forces and demands of different workers. |
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| Process of of negotiation between management and union representatives. |
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| Everything used to produce and exchange goods. |
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| Political and economic system in which the government owns the means of production. |
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| Persons who believe that people can live at peace with each other if they live in small cooperative settlements, owning all of the means of production in common and sharing the products. |
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| Name given by Karl Marx to the working class. |
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| Authoritarian socialism; economic and political system in which governments own the means of production and control economic planning. |
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| Political system in which the government takes over the means of production peacefully; people retain basic human rights and partial control over economic planning. |
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