Tariffs - Taxes on imported goods., Trusts - Groups of businesses working together to reduce competition., Boom - Period of high economic prosperity., Assembly line - System of producing goods in which each worker has only one job., Mass production - Quick, efficient and cheaper system of producing goods in factories., Mail order - Type of shopping in which customers order goods from catalogues., Hire purchase - System of getting a good and paying for it in installments., Laissez-faire - Idea that governments should not get involved in the economy., Examples of traditional Industries - Textiles, coal, agriculture., Examples of new industries - Cars, household appliances, radios., Examples of raw materials - Coal, oil, iron, gas.,

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