Industrialization- WW1 Flash Cards

Front

Industrialization led to urbanization

Back

Growth of industry led to the growth of cities.

Front

Factors leading to industrialization

Back

Resources, transportation, capitalism, corporations, inventions, and laissez-faire government policies.

Front

Laissez-faire

Back

Government leaves the economy alone, not regulating economic transactions.

Front

Transcontinental Railroad

Back

Connected economies and resources on the East and West Coasts, encouraging westward movement.

Front

Capitalism in the US

Back

Includes private ownership, profits, competition, and open markets.

Front

Corporations' goal

Back

To make a profit and compete for consumer dollars.

Front

Bessemer Process

Back

Created by Henry Bessemer, it produced faster and cheaper steel, aiding urbanization.

Front

Mass production

Back

Reduced the cost of products and produced exact copies.

Front

Assembly line

Back

Breaks down production into steps, making it faster.

Front

Andrew Carnegie

Back

Steel monopolist.