Economy and Labor Systems - AP World Flashcards

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