Second Industrial Revolution Flashcards
Network
System of connected railroad lines that made travel from one place to another easier.
Standard Gauge
Width of railroad track that is used consistently among the country
Standard time zones
Region of the earth that uses a uniform standard of time
Consolidate
Combining two or more companies into one
Rebate
Secret discounts that railroad companies give to there largest companies
Mass production
Producing something on a larger scale for cheaper
Bessemer process
A way to produce steel in a fast and cheap way
entrepreneur
Someone who builds there own business to make a profit
Corporation
Business owned by a investor
Stock
shares of business sold by corporation
Dividends
Shares of corporations profits
Monopoly
Controlling all or nearly all of a businesses off a industry Rockefeller standard oil
Trust
A group off corporations run by a single board of directors
Free enterprise system
Business owned by private citezins which compete against other businesses
Vertical integration
Practice in which a single manufacturer controls all steps used to change raw materials into consumer products
