1. America Transforms Rise of Industries & Cities Vocabulary

2. Industrialization the large-scale introduction of manufacturing, advanced technical enterprises, and other productive economic activity into an area, society, country, etc.

3. Modernization To make modern in appearance, style, or character; update.

4. Urbanization the growth of cities resulting from industrialization

5. Immigration the act of foreigners coming into a country for the purpose of permanent residence.

6. Corporation a business owned by investors who buy part of a company through shares of stock

7. Stocks The money that a corporation raises through the sale of shares

8. Trust a legal body created to hold stock in many companies, often in the same industries Railroad Company Buys 55% of a lumber yard Buys 55% of a Steel plant

9. Monopoly a company that eliminates its competitors and controls an industry Buys ATT Buys Sprint Buys Verizon New York Phone Company

10. Free Enterprise The freedom of private businesses to operate competitively for profit with minimal government regulation, individual businesses are owned by private citizens

11. Entrepreneur A person who organizes, operates, and assumes the risk for a business venture.

12. Business Cycle the pattern of good times and bad times in the economy

13. Sherman Anti-Trust Act (1890) a law that made it illegal for corporations to gain control of industries by forming trusts

14. Sweatshop a place where workers labor long hours under poor conditions for low wages

15. Labor Union a group of workers who band together to seek better working conditions

16. Knights of Labor an organization of workers from all different trades formed after the Civil War, wanted shorter work day, end child labor and better pay

17. Collective Bargaining the right of the unions to negotiate with management for workers as a group

18. Cultural Diversity the variety of cultures and ways of living in a specific region

19. Cultural Diffusion transfer of beliefs, values, and social activities from one society to another.

20. Assimilation The process whereby a minority group gradually adopts the customs and attitudes of the prevailing (majority) culture

21. Tenement an apartment building that is usually run down and overcrowded