9. FAC Industrialization #1

an economic system in which factories, equipment, and other means of productions are privately owned rather than controlled by government

• socialism

• communism

• capitalism

• federalism

a method of making stronger steel more cheaply and more quickly

• Ford Process

• Bessemer Process

• Carnegie Process

• Railroad Process

factors of production

• land, labor and capital

• factories, labor and raw materials

• men, women, and children

• money used for investing in business

any financial asset - including money, machines and buildings - used in the production of goods

• raw materials

• capital

• corporations

• monopoly

a company recognized by law to exist independently from its owners, with the ability to own property, borrow money, sue or be sued

• raw materials

• capital

• corporation

• monopoly

a company that completely dominates a particular industry

• trust

• capital

• corporation

• monopoly

a set of companies managed by a small group known as a board of directors, who can prevent companies in the group from competing with each other. The group is called a ......

• trust

• capital

• corporation

• monopoly

having to do with the cultivation of land; farming

• agrarian

• urban

• rural

• mechanization

relating to or characteristic of a town or a city

• agrarian

• urban

• rural

• mechanization

relating to or characteristic of the countryside

• agrarian

• urban

• rural

• mechanization