Terms

2. was the transition to new manufacturing processes in Europe, and the United States
4. process of making an area less rural
6. also called putting-out system
7. economic system in which private business operates in competition
11. economic system based on the private ownership
14. spinning wool or cotton
15. a political theory derived from Karl Marx
17. Scottish economist and philosopher who was a pioneer of political economy
18. French chemist and microbiologist renowned for his discoveries

1. german philosopher, critic of political economy, economist, historian
3. interaction between the sellers of a resource and the buyers for that resource
5. abstention by governments from interfering in the workings of the free market.
8. the ability of people of a society to take economic actions.
9. a heat engine that performs mechanical work using steam
10. inventing different types of steam engine
12. manufacturing of large quantities
13. the action of joining in a political context
16. production, and distribution should be owned or regulated by the community