period of rapid industrial growth occuring in the U.S in the late 1800

machines replaced human workers and more goods were produced in faster times; since goods were produced cheaper, prices lowered so many people could afford goods.

economic system in which business is privately owned and businesses complete for consumer dollars( also referred to as capitalism)

type of business in which people invest by purchasing shares of stock in a company; was a way for businesses to raise large amounts of capital to expand; people bought the stares because they hoped to share in corporations profits.

the government had a 'hands off' policy toward business( stayed out of business affairs), but business took advantage of workers and consumers, so many wanted government to get involved and help out.

the government began to monitor businesses and ensure they treated workers and consumers fairly.

group of workers who organize in hopes of improving working conditions; many people were against labor unions

American federation of labor

opened only to skilled and unskilled workers; led by Samuel Gompers (succeeded)

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s.s unit 2

Term	Definition
Industrialization	period of rapid industrial growth occuring in the U.S in the late 1800
mass production	machines replaced human workers and more goods were produced in faster times; since goods were produced cheaper, prices lowered so many people could afford goods.
mass production was made possible because of the assembly line. an idea of...	Henry ford
free enterprise	economic system in which business is privately owned and businesses complete for consumer dollars( also referred to as capitalism)
corporation	type of business in which people invest by purchasing shares of stock in a company; was a way for businesses to raise large amounts of capital to expand; people bought the stares because they hoped to share in corporations profits.
laissez faire	the government had a 'hands off' policy toward business( stayed out of business affairs), but business took advantage of workers and consumers, so many wanted government to get involved and help out.
regulation	the government began to monitor businesses and ensure they treated workers and consumers fairly.
labor union	group of workers who organize in hopes of improving working conditions; many people were against labor unions
American federation of labor	opened only to skilled and unskilled workers; led by Samuel Gompers (succeeded)

Created by: lbivona

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