Industrialization II

Belief that the government should have very little involvement in economics

• Commerce

• Tariff

• Laissez-faire

• Regulation

Worker that has a specific skill

• Trust

• Skilled Worker

• Unskilled Worker

• Union

Worker doing a job that does not require advanced training

• Unskilled Worker

• Monopoly

• Skilled Worker

• Tariff

A tax on imported or exported good

• Infastructure

• Tariff

• Commerce

• Trade Tax

A line of machines, equipment, workers, etc., in a factory that builds a product by passing work from one station to the next until the product is finished

• Vertical Integration

• Service Industry

• Horizontal Integration

• Assembly Line

Trade

• Trade

• Commerce

• Tariff

• Industry

A business owned by shareholders who possess ownership rights to the firm’s profits

• Small Business

• Service Industry

• Infrastructure

• Corporation

The large-scale introduction of manufacturing

• Regulation

• Urbanization

• Horizontal Integration

• Industrialization

The basic equipment and structures that a country needs such as roads

• Union

• Infrastructure

• Technology

• Commerce

Owning many of the businesses in a certain field

• Horizontal Integration

• Vertical Integration

• Monopoly

• Manufacturing Industry