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Period: to
American Industrial Revolution
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Eli Whitney
Eli Whitney created the Cottin Gin; produced clean cotton faster. -
Mass Production
The making of many products in a short time period. Assembly lines are one of the examples of time-saving techniques. -
Means of production
To increase supplies (Ex: steel & clothing), and to increase population. -
Labor Union
A group of workers that come together to achieve goals. Such as wages, hours, and working conditions. -
Traditional Economy
Based on customs/traditions of the community or a family. -
Laissez Faire
Government policy, believes that the government should only intervene as little as possible when it comes to economic affairs. -
Command Economy
Where prices, incomes, production, and investments are determined by the government. -
Mixed Economy
It combines private and public enterprise. -
Market Economy
Based on supply and demand. -
Thomas Edison
He invented the light bulb; he was the first person to start a power distribution company during the Industrial Revolution. -
Enterprise
Project that is usually hard, you have to use effort. *Couldn't find a year. -
Communism
Everyone is equal, no private enterprises. -
Socialism
A theory; production, distribution, and exchange needs to be owned. -
Bessemer process
Makes steel faster and more affordable; process takes impurties out of it too. -
Tenement
Set of rooms that form a seperate residence within a house or apartments. -
Entrepreneur
A person thay organizes or is in control of a business/businesses. -
Capital
Most important city of region/state. *put a random year, i don't know when they started. -
Knights of Labor
A labor union; created by a group of tailors. Promoted the social and cultural uplift of working people. -
Andrew Carnegie
Made cheap and efficient mass production of steel reails for railroad lines. First person in the U.S. to ever own integrated iron and steel operations. -
John D. Rockefeller
Started the oil companies; his belief was to have cheap and good oil. -
American Federation of Labor
They focused on securing for its members high wages, working conditions, and less working days. They were a union; they were the largest and most powerful union in the country. -
Haymarket Square Riot
Tooken place in Chicago, Illinois; there was a bomb thrown at some policemen. The policemen were trying to break up a labor rally. The police responded with gunfire, killing people in the crowd and injuring many others. -
ICC
The purpose was to regulate railroads (for fair rates and to stop discrimination). The agency was stopped in 1995. -
Monopoly
The possession of the supply in a service. -
Sherman Antitrust Act
It prohibited trusts, named after Senator John Sherman. Based on constitutional power of Congress regulate interstate commerce. -
Urbanization
Growth of an area, resulted from migration. Usually happens in/by large cities. -
Eugene V. Debs
He formed the American Railway union. In 1894 he lead one of the largest strikes in American history, "The Pullman Strike".
