Industrial Revolution 3 2021-22

mixed economy that may have higher taxes to pay for social welfare programs such as healthcare or aid for the elderly

business owned by many investors who buy shares of stock and risk only the amount of their investment is a labor union

market regulated by the natural laws of supply and demand is laissez-faire

Which scientist is responsible for the theory known as “survival of the fittest”?

Social Darwinism was a movement that urged Christians to social service

Thomas Edison

The most important factor in transportation during the Industrial Revolution

proletariat is an association of workers organized to improve wages and working conditions

Bourgeoisie is the "working class" as described by Marx

Labor for factories during the Industrial Revolution came mostly from

Orville and Wilbur Wright

James Watt

Eli Whitney

The Industrial Revolution began in

free market economy in which the government is largely “hands off” and does not interfere with economic decisions

Industrialization is the development of a system which supports machine production of goods

command economy with total control over factories and farms (production) by the government

Which scientist is credited for making electricity a usable commodity?

Economist that supports capitalism in his book titled 'The Wealth of Nations'.

urbanization is the growth of cities and the migration of people into them

people interested in finding new business opportunities and new ways to make profits.

poorly built, overcrowded apartment buildings are corporations