Industrial Revolution Flashcards
What were examples of inventions mentioned in Charlie Brown?
- paper bag -football
- comic strip -baseball
- chewing gum -refrigerated railroad car
- ice cream sundae -cable cars
- drinking straw -vacuum
- toothpick -typewriter
- sneakers -billiard ball
- earmuffs -telephone
- 4-wheel roller skates -electric light bulb
- basketball -horseless carriage
patent
government document giving an inventor the exclusive right to make and sell and invention for a specific number of years
Bessemer steel process
uses less coal, so it reduced the price of steel
Thomas Edison
inventor of the electric light bulb and many other devices; had a lab in New Jersey and over 1,000 patents. Edison created the first electric plant
Alexander Graham Bell
inventor of the telephone, by accident and spilled acid on himself and found that sound travels on a line
Christopher L Sholes
inventor of the first practical typewriter
Elias Howe
first patented the sewing machine
Isaac Singer
patented a sewing machine and continued to improve it
Granville T Woods
patented devices to improve telephone and telegraph systems
Margaret Knight
invented machines for packaging and the packaging and shoe making industries
corporation
a business owned by investors who buy part of it through shares of stock
shareholder
an investor who buys part of a company through shares of stock
John D Rockefeller
founder of the Standard Oil Trust and made his fortune by buying out other refineries
horizontal integration
buying out competition and in turn, raising the price
Andrew Carnigie
built US steel industry
vertical integration
control all processes related to manufacture
robber baron
a business leader who became wealthy through dishonest methods
monopoly
when a corporation owns a vast majority of the industry
trust
a kind of monopoly formed when businesses join together in order to hold stock
business cycle
the pattern of good and bad economic times
depression
a period of low economic activity
Gilded Age
the late 1800s in which there was much poverty covered by the wealthy and that there was a stigma that anyone could get wealthy through hard work