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Making large amounts of goods quickly using machines.
Mass Production
When one company controls an entire industry.
What is a Monopoly?
A large business owned by many investors.
What is a Corporation?
A group of companies controlled by one organization.
What is a Trust?
An economic system where people own businesses to make profit.
What is Capitalism?
He built a steel empire and gave money to charity.
Who is Andrew Carnegie?
He controlled the oil industry through Standard Oil.
Who is John D. Rockefeller?
This banker financed companies and controlled large parts of the economy.
Who is J. P. Morgan?
He became one of the richest men in history through oil.
Who is John D. Rockefeller?
Name TWO major industrial leaders from this era.
Who are Andrew Carnegie, John D. Rockefeller, J. P. Morgan, or Henry Ford?
A system where each worker does one small step of production.
What is an Assembly Line?
Machines replaced these during the Industrial Revolution.
What are hand tools?
This man made cars affordable using mass production.
Who is Henry Ford?
This system lowered costs and increased production speed.
What is the assembly line?
This method allowed goods to be made faster and cheaper than by hand.
What is mass production?
This railroad connected the East and West Coasts.
What is the Transcontinental Railroad?
The railroad helped create this type of nationwide economy.
What is a national economy?
The Transcontinental Railroad was completed in this year.
What is 1869?
Railroads helped transport goods, people, and ______.
What are resources?
This railroad helped businesses expand across long distances.
What is the Transcontinental Railroad?
A positive effect: goods became cheaper and more ______.
What is accessible?
Workers often faced poor ______ conditions.
What are working conditions?
Industrialization shifted America from farming to this.
What is industry?
A negative effect: workers earned low ______.
What are wages?
This major shift transformed the U.S. from a farming society into an industrial nation.
What is the Industrial Revolution?