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17 Cards in this Set
- Front
- Back
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Second industrial revolution |
A period of rapid growth in the U.S. Manufacturing in the late 1800's |
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Bessemer's process |
Invented the Bessemer's processes a way to manufacture steel quickly and cheaply by blasting hot air through melted iron to quickly remove impurities |
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Patents |
Exclusive rights to make or sell inventions |
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Alexander Graham Bell |
Patented the telephone |
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Henry Ford |
Introduced the Model T in 1908. Ford was the first to implement the moving assembly line in manufacturing process a process that greatly reduced the cost of building a product his making cars more affordable |
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Thomas Edison |
Made electricity possible |
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Corporation |
Or businesses that sell portions of ownership called stock shares. |
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Verticle integration |
Or ownership of businesses involved in each step of a manufacturing process |
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Horizontal integration |
Or owning all businesses in a certain field |
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Trust |
A legal arrangement grouping together a number of companies under a single board of directors |
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Social Darwinism |
A view of society based on scientist Charles Darwin's theory of natural selection |
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Monopoly |
Or total ownership of a product or service |
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Sherman's Antitrust Act |
A law rah made it illegal to create monopolies or trusts that restrained trade |
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Haymarket Riot |
In what became known as the Haymarket riot someone threw a bomb that wounded many police officers and killed eight. The police fired into the crowd killing several people and wounding 100 others |
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Collective Bargening |
All workers acting collectively or together workers had a much greater chance of success in negotiating with management |
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Labor union |
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Strike |
The refusal of workers to perform their jobs until employers meet their demands |
