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Industrialization
Social Studies 8 Gambitta
Term | Definition |
---|---|
Corporation | A business owned by many investors |
Monopoly | When a company controls 95% of the business in one industry |
Mass Production | Items are made (produced) faster and cheaper |
Rate Wars | When railroads slash (drop) their prices (fares) to win customers |
Free Enterprise System | When private citizens own a nation's businesses |
Vertical Integration | When someone takes complete control of an industry. Example: Steel Industry: Iron ore mining to the shipping finished steel |
Stocks | Shares of a business owned by investors |
Dividend | When an investor in a company receives a share (portion) of a company's profits |
Sherman Anti-Trust Act | Banned the formation of trusts and monopolies |
Assembly Line | Henry Ford was the first to use this process to make cars |