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Copy down Vocababulary Capitalism – economic system based on private
ownership of business to make profit (Market Economy)
Socialism –economic system where the factors of production are owned and controlled by the government
Communism – belief in a classless society where property is shared and there is equality
Supply & Demand – relationship between availability of goods/services and the desire among consumers
What might we infer from these three pictures about how society changed (use what you currently know about the Industrial Revolution)?
Industrialized (Review) U.S., Europe,
Japan emerge as world powers
Factories and mass production of goods
Immigration: Push – Pull Factors
Push Factors
War/Violence Racism Famine
Pull Factors
Wages = money/Jobs
Freedom Food
The Immigrant Experience “Well, I came to America because I heard the
streets were paved with gold. When I got here, I found out 3 things: first, the streets weren't paved with gold; second, they weren't paved at all; and third, I was expected to pave them.”
What is he really saying?
Urbanization
Growth of cities Cities offer jobs, entertainment,
and opportunity Have skyscrapers, cheap
apartments, public transportation
Social Structure Classes/groups of people defined by their
job/salary/education Big changes:
Large working class in factories Growth of middle class