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US Ch. 13
Expansion of American Industry
| Term | Definition |
|---|---|
| patent | licenses that give an inventor the exclusive right to make, use, or sell an invention |
| productivity | amount of goods and services created in a given period of time |
| transcontinental railroad | railway extending from coast to coast |
| Bessemer Process | process to remove impurities from steel |
| mass production | production in great amounts of steel |
| Why did changes in daily lives after Civil War? | electricity improved, developed new uses in petroleum helping to power machines |
| How did advances in electrical power/communication affect life for people and business? | homelife had refrigeration, lights; helped employment; telephone allowed more communication |
| Effects of railroad on industry | faster and cheaper; creation of markets' stimulation for other industries |
| social Darwinism | society does as little as possible to interfere with people's pursuit of success |
| oligopoly | market structure dominated by only a few large protifable firms |
| monopoly | complete control of product or service |
| cartel | loose association of businesses that make the same product |
| vertical consolidation | gaining control of many different business that make up all phases of a products development |
| economies of scale | as production increases, the cost of each item is lowered |
| horitzontal consolidation | bringing together many firms in the same business to form one large one |
| trust | a group of separate companies that are placed under the control of a single managing board |
| Sherman Antitrust Act | law passed by Congress (1890) that outlawed a combination of companies that restrained interstate trade or commerce |
| piecework | workers are paid not by amount of time but by number of items they produced |
| sweatshop | factory where employees work long hours at low wages under poor working conditions |
| division of labor | way of producing in which different tasks are performed by different people |
| factors that led to growing work force 1860-1900 | immigrants looking for better jobs; population shift from rural areas to cities because of poor farming |
| socialism | economic and political philosophy that favors public instead of private control of the means of production |
| craft union | organized skilled workers in a network of smaller unions |
| collective bargaining | workers negotiate as a group with employers |
| industrial union | organized workers from all crafts in a given industry |
| scab | negative term for a workercalled in by an employer to replace striking workers |
| anarchist | radicals who oppose all government |
| Haymarket Riot | 1886 labor-related violence in Chicago |
| Homestead Strike | 1892 strike in Pennsylvania against Carnegie steel |
| Pullman Strike | 1894 railway workers' strike that spread nationwide |
| Impact of industralization on the gulf between rich and poor | Gulf became wider; workers began to resent extravagant lifestyles of factory owners |
| Goals of early labor unions | help for members in hard times; means for workers demands for shorter work day, higher wages |
Created by:
mbarkley
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