Industrialization: The process of developing industries on a large scale using machinery and advanced technology. It involves transforming an economy from primarily agricultural-based to one focused on manufacturing goods.
Capitalism: An economic system where private individuals or companies own and control the means of production for profit. It promotes competition, free markets, and private property rights.
Infrastructure: The basic physical structures needed for the operation of society, such as roads, bridges, railways, and utilities. Infrastructure plays a crucial role in facilitating economic development during booms.