Review Industrialization Vocab

the exclusive right to an invention

the production of large quantities of a standardized article (often using assembly line techniques)

A line of machinery, tools, and workers on which objects to be manufactured are moved from one post to the next, where different workers perform different steps in the manufacturing process

 Natural scientist's theory of evolution that was thought by some to apply to business and social relationships. The "fittest" business or individual would succeed if left unrestricted.

A term that refers to the consolidation of numerous production functions, from the extraction of the raw materials to the distribution and marketing of the finished products, under the direction of one firm.

share of ownership in a corporation

group of businesses run by a single board of directors

the process of setting up a business to make a profit

company that controls all or nearly all businesses in an industry

idea that gov’t should not interfere in the economy