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Mr. Shultz Second Semester Study Guide (Chapter 14)
Mr. Shultz Second Semester Study Guide
16
History
10th Grade
05/14/2010

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Term
Second Industrial Revolution
Definition
The Gilded Age in America was based on heavy industry such as factories, railroads and coal mining
Term
Bessemer Process
Definition
the first inexpensive industrial process for the mass-production of steel from molten pig iron.
Term
Transcontinental Railroad
Definition
a railroad network of trackage that crosses a continental land mass
Term
Capitalism
Definition
an economic system in which the means of production are privately owned; supply, demand and price are mostly set by market forces rather than economic planning; and profit is distributed to owners who invest in businesses
Term
Laissez-faire Capitalism
Definition
means allowing industry to be free from state intervention, especially restrictions in the form of tariffs and government monopolies
Term
Social Darwinism
Definition
Life to the fittest death to losers
Term
Monopoly
Definition
when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it
Term
John D Rockefeller
Definition
an American oil magnate. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy
Term
Andrew Carnegie
Definition
was a Scottish-American industrialist, businessman, entrepreneur and a major philanthropist.
Term
Philanthropy
Definition
the effort or inclination to increase the well-being of humankind, as by charitable aid or donations
Term
Cornelius Vanderbilt
Definition
an American entrepreneur who built his wealth in shipping and railroads and was the patriarch of the Vanderbilt family.
Term
Sherman Antitrust Act
Definition
preventing monoply
Term
Sherman Antitrust Act
Definition
preventing monoply
Term
knight of labor
Definition
the largest and one of the most important American labor organizations of the 19th Century
Term
AFL
Definition
American Federation of Labor was one of the first federations of labor unions in the United States. It was founded in 1886 by an alliance of craft unions disaffected from the Knights of Labor
Term
Thomas Edison
Definition
an American inventor, scientist and businessman who developed many devices that greatly influenced life around the world
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