The Industrial Age - Vocabulary Pt. 1

1. Thomas Edison, Alexander Graham Bell, and the Wright Brothers were all:

• generous philanthropists

• rich industrialists

• greedy robber barons

• important inventors

In the late 1800s, many entrepreneurs formed their businesses as ____________, or businesses that sell portions of ownership called stock shares.

• corporations

• vertical integrations

• social darwinism

• trusts

Which industry did Andrew Carnegie make his fortune in?

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What was the most important economic effect of the transcontinental railroad?

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Which method of mass production is being shown?

• Bessemer Process

• Moving Assembly Line

• Monopoly

• Child Labor

Which term best describes the situation in the picture?

• monopoly

• pollution

• capitalism

• child labor

An arrangement of machines, equipment, and workers in which work passes from operation to operation in direct line until the product is assembled

• Laissez Faire

• Assembly Line

• Mass Production

• Cottage Industry

Person who organizes, manages, and assumes the risks of a business or enterprise

• Adam Smith

• Entrepreneur

• Karl Marx

• Socialism

During periods of strong economic growth, a shareholder earns a(n) ________, a cash payment from the corporation's profits on the stock he or she owns.

• labor
• consolidation
• railroad barons
• dividend

In a(n) ________, each worker performs an assigned production task again and again.

• assembly line
• strikebreaker
• monopoly
• rebate