Luea's - Industrial Revolution

System where factors of production are privately owned and operated for profit

Theory that promotes greatest good for greatest number of people

What vocabulary word refers to the middle 1700's?

The development of industries for the machine production of goods is known as

Housing for the lowest class of citizens located at the center of the city

Policy of economics where there is no government interference. Aka "let it be”?

Growing a different crop in a field each year to preserve the fertility of the land is called

What do you call a person who organizes, manages, and take on risks of a business?

An economic system in which the government owns and controls major industries

Who defended the idea of a free economy in his 1776 book "The Wealth of Nations"?

Form of socialism in which the means of production contolled by an elite group

A piece of land that is fenced-in or hedged-in is called a (an)

Movement of people from farms to cities is called

Social class made up of skilled workers, business people, professional, and wealthy farmers is

A German economist that introduced the world to a radical type of socialism called Marxism