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23 terms

Mrs. Morris Final Study Guide

STUDY
PLAY
Industrialization
Time period in which technology and business grew and a great number if inventions were created
Cornelious Vanderbilt
a railroad baron, who bought up railroad lines in New York State,who eventually came to own the New York central. He contolled most of the railrod lines between new york and the great lakes
Andrew Carnegie
United States industrialist and philanthropist who endowed education and public libraries and research trusts (1835-1919)
railroad industry
faster, more practical means of transporting goods, lowered production costs, created national markets, served as a model for big business, stimulated other industries
Primary Source
firsthand information about people or events
Secondary Source
information gathered by someone who did not take part in or witness an event
Strike
a group's refusal to work in protest against low pay or bad work conditions
Labor Union
an organization of employees formed to bargain with the employer
John D. Rockefeller
Established the Standard Oil Company, the greatest, wisest, and meanest monopoly known in history
Triangle Fire
A fire in New York's Triangle Shirtwaist Company in 1911 killed 146 people, mostly women. They died because the doors were locked and the windows were too high for them to get to the ground. Dramatized the poor working conditions and let to federal regulations to protect workers.
Capitalism
an economic system based on private ownership of capital
Monopoly
When a company or person controls all or most of the business in an industry
Stock
shares of ownership in a corporation
Corporation
a business owned by stockholders who share in its profits but are not personally responsible for its debts
Capitalism
an economic system based on private ownership of capital
Social-Darmwinism
survival of the fittest to countries, wars, races
Free-Enterprise
an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Laissez-faire
idea that government should play as small a role as possible in economic affairs
Trust
Group of companies managed by the same board of directors
Sweatshop
a shop or factory where workers work long hours at low wages under unhealthy conditions
Philantropist
wealthy people who donate money to charitable causes
Captain of Industry
The rich powerful businessmen
Robber-baron
Unethical