1. gauge- width of a train track
2. network- system of connected railroad lines
3. consolidate- combine
4. rebate- discount
5. pool- system in which several railroad companies agreed to divide up the buisness in an area
1. Bessemer process- method developed in the 1850s to produce
strongersteel at a lower cost.
2. vertical integration- practice in which a single manufacturer controls
all of the steps used to change raw materials into
3. corporation- business that is owned by investors.
4. stock- share of ownership in a corporation.
5. dividend- share of a corporation's profit.
6. trust- group of corporations run by a single board of directors.
7. monopoly- a company or group having control of all or nearly all of the
business of an industry.
8. free enterprise system- economic system in which businesses are
owned by private citizens who decide what to
produce, how much to produce, and what
prices to charge
9. Sherman Antitrust Act- an 1890 law that banned the formation of
trusts and monopolies in the United States
1. patent- license for a new invention
2. transatlantic- crossing or spanning the Atlantic Ocean.
3. moving assembly line- method of production by which workers stay in
one place as products travel past on a moving
4. mass production- process of making large quantities of a product
quickly and cheaply.
1. sweatshop- workplace where people labor long hours in poor
conditions for low pay.
2. Knights of Labor- an American labor organization founded in 1869 to
protect the rights of workers.
3. strikebreaker- replacement for a striking worker
4. anarchist- person wjo opposes organized government
5. Haymarket Riot- labor rally in chicago in 1886 that ended in violence
when a bomb exploded
6. AFL- (...