Chapter 14 Review on Industrial Revolution

Front

a steel making process that was quicker and cheaper than earlier methods

Back

Bessemer Process

Front

person who drilled the first commercial oil well in Pennsylvania

Back

Edwin Drake

Front

oil prospector that spent much of their time in Texas in the late 1800s

Back

wildcatter

Front

railroad that crossed the entire country

Back

Transcontinental Railroad

Front

risk-taker who uses personal money and talents to launch a new business

Back

Entrepreneur

Front

an economic system in which private businesses run most industries; competition determines prices and wages.

Back

Capitalism

Front

type of capitalism that lets companies conduct business without government interference

Back

laissez-faire

Front

an industry in which one corporation has complete control

Back

monopoly

Front

oil tycoon; founder of Standard Oil

Back

John D. Rockefeller

Front

owning the companies that supply a business

Back

vertical integration