What is the level of material comfort?
BM ~ Chapter 1 ~ Intro to Business and Economics
| A | B |
|---|---|
| Level of material comfort measured by the goods, services, and luxuries available. | standard of living |
| Work performed by people in businesses, also called human resource. | labor |
| Willingness and ability to start a new business. | entrepreneurship |
What is the term for the degree of wealth and material comfort available to a group of people?
Standard of living. the degree of wealth and material comfort available to a person or community. Private ownership.
What is a level of material comfort as measured by the good services and luxuries available to a group of people?
Standard of Living is a level of material comfort as measured by the goods, services, and luxuries available to an individual, group, or nation.
What were the essential elements that a nation needs for economic success?
key terms and people
| factors of production | having the essential elements that a nation needs to achieve economic success. |
| cottage industry | having the essential elements that a nation needs to achieve economic success. |
| factory | a building that housed industrial machines. |
Who wrote that the population would always grow faster than food production?
Malthus
What is the process of changing to power driven machinery?
industrialization. the process of changing to power-driven machinery.
Who invented a machine that made planting grain more efficient?
Tull
Why is it called a grain drill?
According to Royal Berkshire History, Tull said of his invention, “It was named a drill because when farmers used to sow their beans and peas into channels or furrows by hand, they called that action drilling.” Tull’s improved drilling method allowed farmers to sow three rows of seeds simultaneously.
What tools were used in the agricultural revolution?
An important factor of the Agricultural Revolution was the invention of new tools and advancement of old ones, including the plough, seed drill, and threshing machine, to improve the efficiency of agricultural operations.
What changes did the spinning jenny bring?
The spinning jenny allowed more threads and yarns to be produced by fewer spinners. The early spinning jenny also produced a weaker thread than could be produced by hand so there was a decrease in quality until improvements were made to the machines and a dependable power source became available.
What is the spinning jenny made out of?
Components. The idea was developed by Hargreaves as a metal frame with eight wooden spindles at one end. A set of eight rovings was attached to a beam on that frame. The rovings when extended passed through two horizontal bars of wood that could be clasped together.
When was the spinning wheel used?
Spinning wheels are believed to have originated in India between 500 and 1000 A.D. By the 13th century, they were seen in Europe and were a standard piece of equipment for those making fiber into yarn.
What is the spinning process?
Spinning is the process of winding together of drawn-out strands of fibres to form a yarn and is a major part of the textile industries. Spinning is used in manufacturing various textile fibres. Ring, Rotor, Air Jet are different types of spinners used in the textile industries.
What are the spinning devices?
The process of pulling and twisting results in a piece of yarn. The two hand-operated devices used for spinning are Takli and Charkha.
What is Charkha used for?
The charkha was both a tool and a symbol of the Indian independence movement. The charkha, a small, portable, hand-cranked wheel, is ideal for spinning cotton and other fine, short-staple fibres, though it can be used to spin other fibres as well.
Who helped Gandhiji discovers his first Charkha?
Popularising the charkha was the work of Gandhi’s ardent Nepalese disciple, Tulsi Mehar Shrestha. Shrestha was born in Kathmandu in 1896.