Industrialization Flashcards
Tenement
overcrowded
Rural
areas that not many people live
Industrialization
making stuff with big machines in big factories
Capitalism
capital=money; businesses competing to make money
Agrarian
related to farming
Mechanization
producing stuff with machines
Industry
the business of making things
Laissez-faire
an enlightenment philosophy; means hands off; government stays out of businesses way
Social Darwinism
survival of the fittest
Corporation
business owned by many people
Monopoly Trust
one place is the only place that you can get a certain good
Sherman Antitrust Act
1st federal law to attempt to limit monopolies
Efficiency
eliminating waste (money,time,energy)
Productivity
Measure of inputs and outputs ; if you make more with less resources, productivity goes up
Specialization
getting really good at producing one thing
Interdependence
two or more things that each other need to work
Immigration
people moving into the country