Industrialization Vocabulary

Front

A change from making goods by hand to using machines

Back

Industrialization

Front

Policy that the government should NOT interfere much with the nation's economy ("Hands off" approach)

Back

Laissez-Faire

Front

Process of people moving from rural areas (country) to urban areas (cities)

Back

Urbanization

Front

A person who invests in a corporation by buying shares of stock, and therefore is a partial owner

Back

Shareholder

Front

Making goods in large quantities (amounts) usually with the aid of machines

Back

Mass Production

Front

Charitable acts of gifts or money to benefit the community

Back

Philanthropy

Front

A company that sells shares of stock (ownership) in its business to the public

Back

Corporation

Front

Having total ownership or control over a certain industry/business

Back

Monopoly

Front

A mechanized line (it moves) where workers standing next to it perform certain tasks over and over again

Back

Assembly Line

Front

Created Standard Oil, which at one time controlled 90% of the oil industry in the U.S.

Back

John D. Rockefeller