Flashcards: Industrialization

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Corporation

Back

Large companies or groups of companies authorized to act as a single entity. Are publicly traded by selling shares of stock to investors on the New York Stock Exchange.

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Heavy industry

Back

The manufacturing of large, heavy articles and materials in bulk.

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Agricultural workers – factory workers

Back

Transition from farming-based jobs to industrial factory jobs.

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Rural to Urban living

Back

The movement of people from the countryside to cities, often for work.

Front

Assembly Line

Back

A production process that breaks the manufacturing of goods into steps with the use of machinery.

Led to an increase in the production of goods in a shorter amount of time thus lowering the cost of consumer goods.

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Technological innovations

Back

New or improved technologies that drive progress and efficiency.

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Entrepreneur

Back

An individual who creates and/or invests in one or more businesses, taking on financial risks in the hope of profit.

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New Money

Back

Wealth that has been recently acquired, not inherited.

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Old Money

Back

Wealth that has been inherited over generations.

Front

Incandescent (light bulb)

Back

A type of electric light with a wire filament heated until it glows.

Allowed factories to operate in 3 shifts!