age of industry Flashcards
entrepreneur
someone who starts a business
trust
a combination of companies formed by a legal agreement, to limit competition; group of corporations owned by a single board of directors
collective bargaining
Discussion between employer and union representatives of workers over wages, hours, and working conditions.
assembly line
a conveyer belt made vehicles more affordable for the average person
patent
A license issued by the government that gives someone the right to make, use, and sell an invention without others copying it.
monopoly
total control of an industry by one producer
corporation
large business owned by many investors
What are 3 ways that railroads affected the U.S.?
The steel industry grew , iron industry grew, helped the lumber industry, coal industry provided fuel