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2nd industrial revo1

history q4 terms

Bessemer process Henry Bessemer’s invention that made steel production faster and cheaper
patent an exclusive right to make or sell an invention
Second Industrial Revolution a period of rapid growth in USA manufacturing in the late 1800s
corporations businesses owned by stockholders
vertical integration owning the businesses involved in each step of manufacturing
horizontal integration owning all of the businesses in a certain field
trust a legal arrangement grouping together a number of companies under a single board of directors
social Darwinism belief that Charles Darwin’s theory of natural selection and “survival of the fittest” holds true for humans
monopoly total ownership of a product or service
Sherman Antitrust Act law that made it illegal to monopolize a business
Created by: mohamedelhussien