Industrial Revolution - a change from products being made by hand to products being made by machine, Capitalism - the economic system of the U.S., people have choice and can own their own business/property, Mass Production - the production of large quantities of goods more quickly and at a cheaper rate, Assembly Line - production system with machines and workers arranged so that each person performs an assigned task again and again as the item passes along a conveyor belt, Division of Labor - the breaking down of a job into separate, smaller tasks to be performed individually, Network - System of connecting lines where all the railroads are connected, Steel - ideal material for making railroad tracks, bridges, and many other products, Captain of Industry - a business leader who transformed the American economy with their skills, Robber Baron - a business leader who uses ruthless business practices to drive out their competition, Competition - the struggle among producers for the dollar of consumers, Monopoly - control of a product or service by one company, Sherman Anti-trust Act - law tried to outlaw monopolies, Corporation - a company that sells shares (stock) of its business to the public to raise capital ($), Laissez-faire - "hands off" the government does not get involved in business, J.P. Morgan - a leader in the banking industry, Andrew Carnegie - a giant in the steel industry, John D. Rockefeller - founder of Standard Oil Company, Cornelius Vanderbilt - controlled the New York Central Railroad, Samuel Gompers - creator of the American Federation of Labor for skilled workers, American Federation of Labor - a union of skilled workers (people trained for their profession), Labor Union - a group of workers band together to create an organization (push for better working conditions), Thomas Edison - light bulb, Henry Ford - assembly line, Wright Brothers - plane, Alexander Graham Bell - telephone, Cyrus Field - transatlantic telegraph cable, Henry Bessemer - new steel-making process, George Pullman - sleeping train car, Granville Woods - automatic airbrake for trains, Gustavus Swift - refrigerated railway car,

Industrialization Vocabulary

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