Across
- 4. the development of industries for the machine production of goods.
- 5. the resources—including land, labor, and capital—that are needed to produce goods and services.
- 7. a large building in which machinery is used to manufacture goods.
- 10. identical machine-made parts, the use of which made factory work more efficient.
- 13. an economic concept that refers to separating tasks in which people in a factory or company work at one kind of job and learn to do it well.
- 17. a business owned by stockholders who share in its profits but are not personally responsible for its debts.
- 19. Scottish economist; he became the leading advocate of laissez faire economics and is considered by some to be the “father of modern economics. ” He wrote the first true text on economics, The Wealth of Nations, in 1776.
- 21. German social philosopher and chief theorist of modern socialism and communism; he declared that as capitalism grew, more and more workers would become impoverished and miserable. He advocated for a state in which the workers own the means of production and govern themselves. Along with Friedrich Engels, he wrote the Communist Manifesto in 1848, explaining their philosophy.
- 23. to refuse to work in order to force an employer to meet certain demands.
- 24. British engineer who invented the Bessemer Process, a cheap way to mass-produce steel.
- 26. A working class Made up of skilled workers, professionals, business people, and wealthy farmers.
- 28. the system of manufacturing large numbers of identical items.
Down
- 1. a situation where people rely on others to provide the goods and services they need.
- 2. an association of workers, formed to bargain for better working conditions and higher wages.
- 3. the system of growing a different crop in a field each year to preserve the fertility of the land.
- 6. the shift, beginning in England during the 18th century, from making goods by hand to making them by machine.
- 8. the growth of citys and people migrating to them
- 9. in a factory, an arrangement in which a product is moved from worker to worker, with each person performing a single task in its manufacture.
- 11. an economic system based on private ownership and on the investment of money in business ventures in order to make a profit.
- 12. the theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people.
- 14. the idea that government should not interfere with or regulate industries and businesses.
- 15. certain rights of ownership of a corporation.
- 16. an economic system in which all means of production—land, mines, factories, railroads, and businesses—are owned by the people, private property does not exist, and all goods and services are shared equally.
- 18. a political philosophy that argues that all forms of government are harmful and should be done away with entirely.
- 20. an economic system in which the factors of production are owned by the public and operate for the welfare of all.
- 22. a person who organizes, manages, and takes on the risks of a business.
- 25. one of the fenced-in or hedged-in fields created by wealthy British landowners on land that was formerly worked by village farmers.
- 27. when one worker specializes in doing one task.