Chapter 9-1 Alli Findley

1. in this society, the factors of production are owned by the public and operate for the welfare of all.
4. refers to the economic policy of letting owners of industry and business set working conditions without interference.
8. who share in its profits but are not personally responsible for its
10. is an economic system in which the factors of production are privately owned and money is invested in business ventures.
12. introduced the philosophy of this
15. the resources needed to produce goods and services that the Industrial Revolution required.
16. the process of developing machine production of goods.
18. things that workers joined together in voluntary labor associations.
19. a refusal to work.
20. a person who organizes, manages, and takes on the risks of a business.

2. refers to the greatly increased output of machine-made goods that began in England in the middle of the 1700s.
3. large buildings where machines were placed.
5. To raise the money, entrepreneurs sold shares of these.
6. one of the best developments made by farmers and improved past crop harvesting.
7. a social class made up of skilled workers, professionals, business- people, and wealthy farmers.
9. city building and the movement of people to cities.
11. is a business owned by
13. large fields used by land owners
14. a professor at the University of Glasgow, Scotland, defended the idea of a free economy, or free markets.
17. a German journalist who introduced the world to a radical type of socialism called marxism. communism a form of complete socialism.