13950983793 | Artisan | a worker in a skilled trade, especially one that involves making things by hand | 0 | |
13950983794 | Bourgeoisie | the capitalist class who own most of society's wealth and means of production; the middle class, typically with reference to its perceived materialistic values or conventional attitudes | 1 | |
13950986083 | Capitalism | an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state | 2 | |
13950986084 | Communism | an economomic/political theory advocating class struggle and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs | 3 | |
13950987902 | Corvée Labor | a form of unpaid, unfree work, which is intermittent in nature and which lasts limited periods of time: typically only a certain number of days' work each year | 4 | |
13950990977 | Encomienda | a grant by the Spanish Crown to a colonist in America conferring the right to demand tribute and forced labor from the Indian inhabitants of an area | 5 | |
13950990978 | Guild | an association of artisans or merchants who oversee the practice of their craft/trade in a particular area. The earliest types formed as a confraternities of tradesmen. They were organized in a manner something between a professional association, a trade union, a cartel, and a secret society | 6 | |
13950993308 | Indentured Servitude | labor by men and women who signed a contract (also known as a covenant) by which they agreed to work for a certain number of years in exchange for transportation to the Americas and, once they arrived, food, clothing, and shelter | 7 | |
13950998643 | Joint-Stock Company | a business whose ownership is divided among shareholders, spreading risk and allowing multiple investors | 8 | |
13950998644 | Mercantilism | the economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism | 9 | |
13951003280 | Piece Work | labor paid for according to the number of units of a good that are produced | 10 | |
13951003281 | Proletariat | workers or working-class people, regarded collectively | 11 | |
13951003282 | Racial Slavery | a labor system that considers one ethnic subcategory of humans as commodities to be bought as sold. The workers are not paid | 12 | |
13951006698 | Serfdom | a legal and economic system. The worker who has to stay in one area, or on a manor. The workers were the lowest social class of the feudal society. The workers could not be bought and sold and could own property | 13 | |
13951006699 | Slavery | a labor system that considers humans as commodities to be bought as sold. The workers are not paid | 14 | |
13951009280 | Wage Labor | work that is done voluntarily for a contractually agreed upon rate of pay, usually allocated based on a unit of time, such as hourly | 15 |
Economy and Labor Systems - AP World Flashcards
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