A | B |
patents | licences to make, use or sell an invention |
productivity | the amount of goods or services created in a given period |
Samuel Morse | perfected the telegraph and its messaging system |
Intercontinental Railroad | created time zones |
Henry Bessemer and William Kelly | developed a new process for making steel |
mass production | production in great amounts |
Washington Roebling | credited for building the Brooklyn Bridge |
Robber Barons | make a fortune from stealing from the public |
Captains of Industry | served their nations in a positive way |
social Darwinism | idea of survival of the fittest |
monopoly | complete control of a product or service |
cartel | loose association of buisnesses that make the same product |
Edwin Drake | first to strike oil through a well |
trust | companies managed as a single entity |
horizontal consolidation | bringing together companies that were in the same buisness |
vertical consolidation | gaining control of many different buisnesses that make up all phases of a product's development |
piecework | persons who work the fastest and produce the most get paid the most |
division of labor | most often seen in the factory where different components of a product is produced by different people |
Socialism | favors public control of property and income |
Scabs | replacement workers |