The Rise of Industry Chapter 25 Vocabulary.

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Presentation transcript:

The Rise of Industry Chapter 25 Vocabulary

industrialization Factories Carnegie steel

industrialization coal

industrialization 1863 Steel factory Water powered

industrialization Ford motors

industrialization Factory workers

industrialization Child labor

industrialization The process in which a society or country transforms itself from an agricultural society into one based on manufacturing To build and operate factories and businesses in a city or country The growth of businesses that make products through machinery

entrepreneur

entrepreneur John D Rockefeller Oil Andrew Carnegie Steel John D. Rockefeller: Standard Oil Andrew Carnegie: U.S. Steel Cornelius Vanderbilt: Railroad J.P. Morgan: Banker John D Rockefeller Oil Andrew Carnegie Steel Cornelius Vanderbilt Shipping & Railroads JP Morgan Finance & Banking

entrepreneur

entrepreneur A person who organizes and operates a business in order to make money This usually involves financial risks

laissez-faire

laissez-faire A policy that allows businesses to operate with very little interference from the government A policy or attitude of letting things take their own course, without interfering

mass production

mass production

mass production

mass production The production of large amounts of standardized products, usually involving assembly lines The use of machinery to make large amounts of the exact same product Sesame Street: How are crayons made?

corporation

corporation

corporation A large business that is owned by many investors A large business that under law has the rights and duties of an individual and follows a specific purpose A big company

trust

trust A group of corporations that unite in order to reduce competition and control prices in an industry This can be considered an abuse of power Anti-trust laws attempt to protect American consumers from this kind of corruption

monopoly

monopoly

monopoly

monopoly

monopoly

monopoly If a company has a monopoly of a business, it has complete control so that no other organizations can compete with it The school cafeteria has a monopoly over the sale of food on campus

urbanization

urbanization

urbanization The growth of cities The process by which towns and cities are formed and become larger as more and more people begin living and working in central areas An urbanized society has lots of people living and working in cities

trade unions

trade unions

trade unions

trade unions

trade unions

trade unions An organized association of workers, often in a trade or profession, formed to protect and further their rights and interests An organization of workers formed to protect the rights and interests of its members

collective bargaining

collective bargaining The discussions between employers and a union in order to reach agreement on wages, working conditions, etc. Talks between an employer & the leaders of a union about how much a group of workers will be paid, how many hours they will work, etc. The process by which wages, hours, rules, & working conditions

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