Industrial Revolution Vocab

Front

Corporation

Back

A business owned by many investors.

Front

Monopoly

Back

A company that controls all production and sales of a particular product or service.

Front

Urbanization

Back

Movement of people from rural areas to cities

Front

Labor union

Back

An organization of workers improving conditions, wages, and benefits.

Front

Supply

Back

The amount of goods available

Front

Demand

Back

Quantity of a good/service consumers are willing and able to buy.

Front

entrepreneur

Back

A person who starts up and takes on the risk of a business.

Front

Profit

Back

Financial gain, difference between amount earned and amount spent.

Front

Laissez-faire

Back

Government should play a minimal role in economic affairs.

Front

Innovation

Back

Improvement of an existing tech product, system, or method.