Social Studies Blog.

More Social Points

2007-10-14T16:10:00.001-07:00

Proprietorship- a buiseness that is owned by only one person

Corporation- an aggregate of people that acts as a single unit, with a single voice.
ie. The Romans

Aggregate- a mass of seperate things/people joined together/associated

Equity- the amount of mony left over after a buiseness pays all that it owes

Laissez-Faire Economics- The economic philosophy which states that government should not intervene with buiseness in a market economy

Boom and Bust Cycle- the buiseness cycle in a market economy which relates to to periods of economic recession or depression

Consumerism- economic policies or practices that place an emphasis on consumption

Labour and Management of Economy

2007-10-14T16:01:00.000-07:00

Collective Bargaining- a procedure used in labour relations that involves employers bargaining with an employee representative, usually from a labour union, about working conditions or other concerns.

Binding Arbitration- a process under collective bargaining where a third party has to resolve a dispute and impose a decision on both arguing parties.

Closed Shops- Buisenesses that hire only union members. Once hired by a closed shop a person is expected to join the union.

Suffragette Group- A group of women who lobbied for the right to vote.

Humanitarianism- A beief that humans are oblidged wholy to the welfare of the human race.

Blue Collar Workers- People who work at manuel/industrial labour.

White Collar Workers- Occupations held by clerks, proffessionals, or buiseness people.

Mediation- To act as a go-between for two or more opposing parties.

American Market Economy

2007-10-01T15:03:00.000-07:00

Goods- Things that people want to buy.

Capital- The money needed to purchase goods.

Scarcity- The fact that there is a limited supplyof resources (money/goods)
-Drives every economy in history

Market Economy- An economic system based on internal free trade.

Command Economy- An economic system in which the government controls most of the decision making.

Mixed Economy- An economic system with a mixture of governmental and private control.
ie. Canada

Alienation- An emotional state experienced by people (workers) who feel seperated from the world in which they live and work.

Law of supply and Demand- An Unwritten law that drives economies. Demand decreases as prices rise. The point on a graph where supply and demand intersect creates the ideal market price for an item. (drives economy)

Equilibrium- Occurs in a competitive market when all market prices are determined by the intersection of supply and demand. (creates balance)

Monolopy- A market that is dominated by a single seller.
ie. microsoft, rockefeller

Antitrust Laws- Laws that the American government uses to break up any large buiseness group that may be acting as a monopoly to supress competition.

Important people to know for American Market Economy notes.

2007-10-01T14:52:00.000-07:00

Karl Marix(German)- Created the begginings of the command economy in which society decides what is good for the people and makes decisions for them.

Adam Smith(Scottish)- Introduced the idea of a free market economy which was driven by peoples' own self interest. This was the system adopted by the USA.

Other social points.

2007-09-27T15:47:00.001-07:00

Region- Area of land that has a common terrain, temperature, amount of percipitation, type of vegetation, and abundance of natural resources.

Terrain- Size and natural features of a piece of land.

6 geopraphical Factors of Industrialization-
1- Terrain
2- Temperature
3- Precipitation
4- Vegetation
5- Abundance of natural resources
6- Proximity to Coastlines

Primary Industries- The extraction of natural resources from the environment.

Secondary Industries- Manufacturing resources into finished usable goods.

Tertiary Industries- Sales and service Industry.

The Vikings were the first people to land in the Americas.

Chartered Companies- Companies that have a written agreement with the government of their country that provides the company with the special rights and priveledges.

Quakers- Didn't want colonization of Britain.

Mercantilism- System of political economy that involves having more exports tan imports. This system promotes colonization.

Boston Tea Party- Got blamed on the Natives

The American Revolution involved the Mahawk Natives.

Cottage Industries- Small enterprises located in a persons home or office rather than a factory.

Frontier- The farthest part of a settled country where the wilds begin.

Reservations- Tracts of land that are set apart, usually by treaty, for use by native people who are qualified by law to live there.

Annexation- When land is taken and declared to be part of a greater land mass, often without the original owners permission.

The Louisiana purchase was in 1804 it cost about 15 million dollars to buy.

Manifest Destiny- The belief that Americans were destined by god to expand it's territories from the Atlantic to the Pacific. This was often used to justfy American encroachment upon Native ad Mexican territories.

Alamo- 187 people killed 1000 trained Mexican soldiers.

The California Gold Rush- was in SanFrancisco, in 1849.

3 changes of the Industrial revolution were:
-Trade
-Agriculture
-Transportation

Abraham Lincoln Outlawed Slavery this was also known as the emancipation proclamation

The emancipation proclamation made the southerners angry because slaves were mandatory for them and their buiseness'. This caused war.

The Fall of The British Empire!

2007-09-27T15:41:00.000-07:00

The fall of The British Empire was caused by barbaric warriors in the North Americas.

These warriors were called Zulu's. The Zulu's were very good tacticians and knew how to fight VERY well. They drank a herbal liquid that slowed their metabolism down so that they did not bleed as much if they were hit by a gun or weapon of any type.

They fought against the British for no reason (hence they were barbaric) but to kill them.

Important people during the Industrial Revolution.

2007-09-27T15:33:00.001-07:00

Jethro Tull- invented the Seed Drill.

James Watt- invented the 2 chamber steam powered engine.
His engine is the basis of modern car engines, this engine caused the change in transportation and helped create the steam train. The steam train helped America expand. and helped the army get the the battles faster.

James Hargreaves- Invented the spinning Jenny.
The spinning Jenny is a spinning wheel with 6 spools instead of 1 spool.

Eli Whitney- Invented cotton Gin
He also invested all of his money to mass produce interchangable parts for guns. (eventually he mass produced for cannons, etc...)
He was the first entrepeneur.

Elias Howe- Invented the Sowing Machine.

The Industrial Revolution (definitions)

2007-09-27T15:08:00.000-07:00

The industrial revolution began in Britain. it improved the standard of living.

Revolution-Mass Change

Industrialization-The development of large industries in a country

Craftsperson-someone who is highly skilled in the techniques of a craft or art.

Capital-Money or property that can be invested in an industry. It is usually economic surplus(profit) that the industry uses to re-invest in itself.

Standard of Living-The degree to which people are able to satisfy their wants as well as their basic needs.

Capitalists-people who own countries means of production (land, factories...etc...) they produce goods and compete each other in a free market for profit.

Capitalists were created by the revolution

Union-Groups of workers joined together to protect or promote their common interests.

Individualism- The theory that individual freedom is just as important as the wellfare of the community as a whole. It often involves the absence of Co-operation.

Social mobility- The ability of individuals to move out of the economic class they were born into. This is possible in a society where individual success is valued.

Creative Innovation- When something is imagined then produced.

Entrepeneur- People who manage a buiseness or industrial enterprise with the intent of making or losing profit, but at the risk of taking a loss.

Total War- Complete Destruction

Tariffs- Duties or taxes imposed by the government primarily on imports and occasioally on exports. This is done to promote industry and trade within a country.

Tariffs incourage people to but things from their own country.
Tariffs also lead to Captive Markets.

Captive Market- A community of consumers restricted to buying products within that community.