industry Flashcards
rural
areas, where not many people live in the country
these areas, are always shrinking
industrialization
making stuff with machines in big factories
mass production
capitalism
capital=money
businesses competing to make money
laissez-faire, market economy
agrarian
related to farming
mechanization
producing stuff with machines
automation
industry
the business of making things
laissez-faire
an enlightenment philosophy
means hands off the government stays out of business way, and lets them direct their own course
capitalism, market economy
social Darwinism
survival of the fittest
only the strong survive everyone is competing against everyone else
tenement
overcrowded, slum housing
corporation
business that is owned by many people, not just one person
monopoly/trust
one company is the only place you can get a certain good or service
sherman antitrust act
1st federal law to attempt to limit monopolies
efficiency
eliminating waste, eliminating wasted time, money, energy, resources
productivity
measures of inputs vs outputs
if you produce more with the same amount of resources or less your productivity goes up
specialization
getting really good at producing or doing one thing
interdependence
two or more things that need each other to work
immigration
people moving into a country