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Do Now:

Do Now:. List 3 Positive and 3 Negative effects of the Industrial Revolution. Effects of the Industrial Revolution. Postive. Negative. Why was England the First Nation to Industrialize?. 10.3.1. Factors of Production.

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Do Now:

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  1. Do Now: List 3 Positive and 3 Negative effects of the Industrial Revolution.

  2. Effects of the Industrial Revolution Postive Negative

  3. Why was England the First Nation to Industrialize? 10.3.1

  4. Factors of Production • England had all of the necessary factors of production to industrialize. • Land, Labor, Capital

  5. Land Natural Resources • Coal and Iron Rivers • Source of power & transportation Harbors • Allowed natural resources and finished products to be shipped

  6. Labor • England had a large population of available workers • The AGRICULTURAL REVOLUTION had led to increased farm production

  7. Capital England had a stable banking system • Provided loans to businesses Entrepreneur – a person who organizes, manages & takes on the risks of business

  8. Ideas of the Industrial Revolution 10.3.6

  9. Capitalism • An economic system based on profit and the private ownership of the factors of production. • First developed by Adam Smith • The Wealth of Nations • Economic liberty guaranteed economic progress. • Laissez Faire- government should not interfere in business

  10. Socialism • Factors of production should be owned by the public, operate for the benefit of everyone. • Factories, mines, railroads & other key industries • Goal to abolish poverty & create greater equality.

  11. Communism • All factors of production owned by the government • NO PRIVATE PROPERTY • Goal is economic equality.

  12. Communist Beliefs • Believe all history is a class struggle. • Proletariat(workers) vs. Bourgeoisie (land & business owners) • Proletariat would rise up in a violent revolution to overthrow the bourgeoisie. • Create a classless society • Overtime, government would cease to exits

  13. Independent Station Students create vocabulary flashcards • Use the following website: • http://www.scholastic.com/kids/homework/flashcards.htm • See Digital Agenda Week 18 M-T for a list of vocabulary words • Pick 12 of the words

  14. Collaborative Station Each group member: • Create 3 multiple choice questions on the industrial revolution. • Create 3 true and false questions on the industrial revolution. • Group members quiz each other to review. • Use your notes and textbooks, pages 253-271

  15. Jeopardy REVIEW

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