Industrial Revolution

2. theory that wealth was a measure of one’s inherent value and those who had it were the most “fit.”
6. method developed in the 1850s for making steel more efficiently.
9. farmers were put out of work by this.
10. made his fortune in the railroads.
11. taxes that made imported goods cost more than those made in the United States. Forced Americans to buy American made products.
14. a grant by the federal government giving an inventor the exclusive right to develop, use, and sell an invention for a set period of time.
17. group ownership of a business.
18. invented in 1844, this invention increased the speed of communication.
19. United States growth was fuelled by this vast supply.
22. strong steel made it possible to build up, not out.
23. an organization of workers formed to pressure business owners to improve wages and working conditions.

1. these systems depended upon machinery to carry out tasks that were once done with hand tools.
3. a person who has become rich through ruthless and unscrupulous business practices.
4. the freedom to run a business for profit with minimal regulation.
5. complete control of a product or service.
7. this was necessary to transports natural resources to the factories.
8. this system of consolidating many firms in the same business.
12. made his fortune in oil.
13. made his fortune on steel production.
15. a person who takes financial risks to start a business.
16. where one owns all the firms involved in the manufacturing process.
17. Arrangement between businesses making the same product agree to limit the production and thus keep prices high.
20. allowed businesses to operate under minimal government regulation, a.k.a. "let do"
21. invented the light bulb.