1. The Rise of Industry
Chapter 25
Vocabulary

2. industrialization
Factories
Carnegie steel

3. industrialization
coal

4. industrialization
1863
Steel factory
Water powered

5. industrialization
Ford motors

6. industrialization
Factory workers

7. industrialization
Child labor

9. 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

10. entrepreneur

11. 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

12. entrepreneur

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

14. laissez-faire

15. 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

16. mass production

17. mass production

18. mass production

19. 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?

20. corporation

21. corporation

22. 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

23. trust

24. 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

25. monopoly

26. monopoly

27. monopoly

28. monopoly

29. monopoly

30. 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

31. urbanization

32. urbanization

34. 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

35. trade unions

36. trade unions

37. trade unions

38. trade unions

39. trade unions

40. 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

41. collective bargaining

42. 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