test pt 2 Flashcards
industrialization
the widespread development of industries through a region,culture,etc
innovation
a new idea
andrew carnegie
steel
John d rockefeller
oil
entrepreneurs
business owners who invest their own money in a product
effect of entrepreneurs
created jobs
capitalism
trade is controlled by private owners for profit (not by govt)
protective tariffs
a tax that makes imported goods more expensive
patent
government gives inventor right to make and sell for certain amount of time (only them allowed)
laissez faire
business operate under minimal government regulation
time zones were created in
1884
negative effects of 2nd industrial revolution
pollution, destroyed land, more war
what led to 2nd industrial revolution
cival war
henry bessemer
purifying iron
samuel fb morse
telegraph and morse code