Industrial Revolution

2. Land, labor, and capital; the three groups of resources that are used to make all goods and services.
4. A method of production that brought many workers and machines together into one building
5. A person who starts up and takes on the risk of a business
7. A political system in which the government owns all property and dominates all aspects of life in a country
10. Process of industrial development in which countries change from producing basic, primary goods to using modern factories for mass-producing goods
11. A system in which society, usually in the form of the government, owns and controls the factors of production.

1. Began in England in the 1700s; change from making goods by hand to making them by machine in factories
3. All or most of the factors of production are owned by individuals, not the government, and operated for profit
6. In the 1600s, lords began fencing off the common land on their manors; this caused a population shift of peasants moving into cities
8. A social class made up of skilled workers, professionals, business people, and wealthy farmers; the bourgeoisie
9. Movement of people from rural areas to cities