4.2 Imm/Gilded age vocab

is an agreement that allows one party, known as a trustee, to hold, manage, and direct assets or property on behalf of another party, called the beneficiary

• Monopoly

• Labor Union

• Business Trust

• Laissez Faire capitalism

A market structure characterized by a single seller, selling a unique product in the market.

• Monopoly

• Labor Union

• Business Trust

• Laissez Faire capitalism

an economic philosophy of free-market capitalism that opposes government intervention.

• Monopoly

• Labor Union

• Business Trust

• Laissez Faire capitalism

An organized association of workers, often in a trade or profession, formed to protect and further their rights and interests.

• Monopoly

• Labor Union

• Business Trust

• Laissez Faire capitalism

Famous Industrialist who became wealthy with steel production made cheap by the bessemer process.

• John Rockefeller

• Andrew Carnegie

• Henry Ford

• J.P. Morgan

Famous Industrialist who became wealthy with oil production by forming trusts with other companies.

• John Rockefeller

• Andrew Carnegie

• Henry Ford

• J.P. Morgan

Famous Industrialist who became wealthy producing cars by perfecting the assembly line and factory system.

• John Rockefeller

• Andrew Carnegie

• Henry Ford

• J.P. Morgan

was invented by Cyrus McCormick in 1831. This machine was used by farmers to harvest crops mechanically.

• interchangeable parts

• assembly line

• bessemer process

• mechanical reaper

Process of superheating iron  which burns off the impurities and creates steel cheaply.

• interchangeable parts

• assembly line

• bessemer process

• mechanical reaper

a series of workers and machines in a factory by which a succession of identical items is progressively assembled.

• interchangeable parts

• assembly line

• bessemer process

• mechanical reaper