Industrialization Flashcards
overcrowded; slum housing
tenement
the country; not many living there
Rural
mass producing using machines and big factories
Industrialization
Businesses competing to make money
Capitalism
related to farming
Agrarian
automation; producing stuff with machines
Mechanization
the business of making things
Industry
government does not get involved in a business’ practaces
Laissez-faire
Survival of the fittest for businesses
Social Darwinism
business owned by many people
Corporation
a company that takes over a certain trade
Monopoly
1st attempt a limiting monopolies
Sherman Antitrust Act
eliminating waste
Efficiency
the measure of inputs vs. outputs
Productivity
getting really good at one thing
Specialization
two or more things that need each other to work
Interdependence