1. 2 nd Industrial Revolution Vocabulary Part Two

2. Model T  An early Ford Car.

3. Assembly Line  A factory method in which work moves past stationary workers who perform a single task again and again.

4. Mass Production  Factory production of goods in large quantities.

5. Corporations  A type of business organization owned by many people because portions of the ownership are sold as stock.

6. Vertical Integration  The business practice of owning a business involved in different points of the same production path. For example, a food manufacturing company, such as Kraft Foods, might buy a supplier, a food importer, and a grocery store to expand its business.

7. Horizontal Integration  Owning all the business in a certain field by combining competing companies of the same type into one corporation.

8. Trust  A legal agreement grouping together a number of companies under a single board of directors.

9. Monopoly  Total control of a type of industry by one person or one company.

10. Sherman Antitrust Act  A law that made it illegal to create monopolies or trusts that restrained free trade.

11. Social Darwinism  A view of society based on Charles Darwin’s scientific theory of natural selection.