Chapter 18 Key Terms and People Flashcards
patent
a document giving someone the sole right to make and sell an invention
Thomas Edison
In 1876 he set up an invention laboratory, producing the first lightbulb, motion picture camera and hundreds of useful devices.
Alexander Graham Bell
In 1876 he sent the first telephone message to his assistant in another room.
Henry Ford
perfected a system to mass-produce cars and make them available at a lower price
assembly line
a manufacturing method in which a product is put together as it moves along a belt
Wilbur and Orville Wright
tested a gas-powered airplane at Kitty Hawk, North Carolina
refine
purify; make free from impurities
alter
to change; to make different
entrepreneur
someone who sets up new businesses to make a profit
corporation
business owned by many investors
monopoly
a company that controls most or all business in particular industry
Andrew Carnegie
business giant worked his way up in the railroad business and then entered the growing steel industry: born a poor Scottish Immigrant, ruthless and charitable
John D Rockefeller
came from humble beginnings, invested in an oil refinery. ended competition in the oil industry by forming the Standard Oil Trust. ruthless and charitable
trust
a group of corporations run by a single board of directors
free enterprise
the system in which privately owned businesses compete freely
eliminate
to get rid of
justify
to give good reason for an action
Samuel Gompers
formed a new union called American Federation of Labor using skilled workers and collective bargaining
collective bargaining
unions negotiate with management for workers as a group
urbanization
the rapid growth of city population
tenement
buildings divided into many tiny apartments in slums, bleak conditions
clinic
place where people receive medical treatment, often for free or for a small fee
Jane Addams
worked hard for poor settle dwellers opened Hull in 1889, a settlement house in the slums of Chicago
settlement house
a center for offering help to the urban poor
