Chapter 5 Section 1 Vocab Flashcards
Inventor of the lightbulb
Thomas Edison
A new process to purify iron and turn it into steel
Bessemer Process
Invented the first automobile
Gottlieb Daimier
Manufactured cars that could go faster, and he used an assembly line to mass produce them
Henry Ford
Designed and flew the first airplane
Wilbur and Orville Wright
Inventor of the radio
Guglielmo Marconi
Establishes one of the first business monopolies
Alfred Krupp
Identical components that can be used in place of one another
Interchangeable parts
A belt that moves along different workstations, so that you can add new parts to a product
Assembly line
Business that is owned by many investors who buy shares of stock
Corporation
An association to fix prices, set production quotas, or divide up markets
Cartel