Chapter 6 Flashcards
patent
a guarantee to protect an inventor’s rights to make, use, or sell an invention
trunk lines
major railroads
George Westinghouse
developed the compressed air-brake
Orville and Wilbur Wright
developed the airplane
How did the advances in steel production and oil refining affect U.S. industry?
steel and oil production skyrocketed
List innovations that were made in transportation in the late 1800s.
- airplane
- railroads
- automobile engines
- passenger trains
telegraph
sent messages over long distances using a system of dots and dashes
- invented by Samuel F.B. Morse
Alexander Graham Bell
invented the telephone
Christopher Sholes
developed the typewriter
Thomas Alva Edison
invented the light bulb and opened one of the first electric power plants in New York City
capitalism
private businesses run most industries and competition determines how much goods cost and workers are paid
free enterprise
supply, demand, and profit margin determine what businesses produce; free market with little government regulation
Karl Marx
German philosopher who developed communism
corporation
organizers raise money by selling shares of stocks to stockholders
How did the government support the rise of big business?
little to no regulations
