age of industry Flashcards

1
Q

entrepreneur

A

someone who starts a business

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2
Q

trust

A

a combination of companies formed by a legal agreement, to limit competition; group of corporations owned by a single board of directors

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3
Q

collective bargaining

A

Discussion between employer and union representatives of workers over wages, hours, and working conditions.

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4
Q

assembly line

A

a conveyer belt made vehicles more affordable for the average person

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5
Q

patent

A

A license issued by the government that gives someone the right to make, use, and sell an invention without others copying it.

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6
Q

monopoly

A

total control of an industry by one producer

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7
Q

corporation

A

large business owned by many investors

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8
Q

What are 3 ways that railroads affected the U.S.?

A

The steel industry grew , iron industry grew, helped the lumber industry, coal industry provided fuel

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