Question

practice vocabulary
true or false? decide whether each statement below is true or false. circle t or f, and then explain your answer. be sure to include the underlined vocabulary word in your explanation. the first one is done for you.

1. t/f the industrial revolution was a fight between factory workers and wealthy factory owners.

false, the industrial revolution was a long, slow process that completely changed the way goods were produced and where people lived and worked.

1. t/f setting up a new business requires capital, or money for investment.
2. t/f a capitalist is a person who is trained to use new technologies, such as the spinning jenny and water - powered loom.
3. t/f when factories cannot get enough raw materials, the supply of goods drops. supply is the amount of goods available to sell.
4. t/f a large amount of goods, known as scarcity, causes prices to rise.
5. t/f eli whitney’s idea of interchangeable parts meant that the parts of an object could be sold for a low price.
6. t/f the young women from nearby farms who came to work in the lowell mills came to be called the lowell girls.
7. t/f as industry grew, many people left farms for work in city factories, causing less urbanization.

Explanation:

1. Capital is defined as money/funds used for business investment, so starting a new business requires this.
2. A capitalist is a person who owns capital (wealth for business), not a tech-trained worker.
3. Supply refers to the quantity of goods available; insufficient raw materials reduce production, lowering supply.
4. Scarcity means a shortage of goods, not a large amount; shortages drive prices up.
5. Interchangeable parts are identical components that can replace each other, enabling mass production, not just low pricing.
6. The young female farm workers employed at Lowell mills were indeed called Lowell girls.
7. Urbanization is the growth of cities; people moving from farms to city factories increases urbanization, not reduces it.

Answer:

1. T; True, setting up a new business requires capital, or money for investment, as capital is the necessary funds for business startup and operations.
2. F; False, a capitalist is a person who owns and invests capital in businesses, not someone trained to use new industrial technologies.
3. T; True, when factories lack raw materials, production decreases, so the supply (the amount of goods available to sell) drops.
4. F; False, scarcity is a shortage of goods, not a large amount; scarcity causes prices to rise, not an oversupply.
5. F; False, interchangeable parts are identical components that can be swapped easily, which enabled mass production, not just low-priced parts.
6. T; True, the young women from nearby farms who worked in the Lowell mills were called the Lowell girls.
7. F; False, as industry grew, people moving to city factories caused more urbanization, the growth of cities, not less.