Flashcards: Mods 12.1, 2 & 3

Front

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.

Front

Heavy industry

Back

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

Front

Agricultural workers – factory workers

Back

Transition from farming-based jobs to industrial factory jobs.

Front

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.

Front

Technological innovations

Back

New or improved technologies that drive progress and efficiency.

Front

Entrepreneur

Back

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

Front

New Money

Back

Wealth that has been recently acquired, not inherited.

Front

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!