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Economy and Labor Systems - AP World Flashcards

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13950983793Artisana worker in a skilled trade, especially one that involves making things by hand0
13950983794Bourgeoisiethe 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 attitudes1
13950986083Capitalisman economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state2
13950986084Communisman 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 needs3
13950987902Corvée Labora 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 year4
13950990977Encomiendaa 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 area5
13950990978Guildan 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 society6
13950993308Indentured Servitudelabor 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 shelter7
13950998643Joint-Stock Companya business whose ownership is divided among shareholders, spreading risk and allowing multiple investors8
13950998644Mercantilismthe economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism9
13951003280Piece Worklabor paid for according to the number of units of a good that are produced10
13951003281Proletariatworkers or working-class people, regarded collectively11
13951003282Racial Slaverya labor system that considers one ethnic subcategory of humans as commodities to be bought as sold. The workers are not paid12
13951006698Serfdoma 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 property13
13951006699Slaverya labor system that considers humans as commodities to be bought as sold. The workers are not paid14
13951009280Wage Laborwork that is done voluntarily for a contractually agreed upon rate of pay, usually allocated based on a unit of time, such as hourly15

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