monopoly, company that controls all or nearly all the business in a particular industry, robber baron, a ruthlessly powerful business owner in the late 19th century considered to have become wealthy by exploiting natural resources, corrupting legislators, or other unethical means., entrepreneur, a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so., horizontal integration, a company acquires other companies in the same industry to grow the company, decrease competition, diversify, or reach new markets and customers, philanthropist, a person who donates his/her money to charity, Gilded Age, the period in the U.S. 1870–1900, characterized by rapid industrial growth and expansion, excess of money and a huge gap between the rich and poor., labor, human activity that provides the goods or services in an economy, union, an organization that represents the interests of workers, trust, a group of businesses that team up or form a monopoly in order to dictate pricing in a particular market., capital, the wealth, whether in money or property, owned or employed in business by an individual, firm, corporation, etc., competition, opposition/rivalry between business for customers or markets, collective bargaining, a negotiation of wages and other conditions of employment by an organized body of employees., corporation, a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law., laissez-faire, a policy or attitude of letting things take their own course, without interfering, a “hands off” approach, urbanization, the population shift from rural areas to urban areas or cities, strike, a refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer., sweatshop, a factory that employs workers for long hours at low wages and in dangerous conditions., capitalism, an economic system characterized by private ownership of business, free trade and competition., vertical integration, having control of all the steps required to change raw materials into a finished product, assembly line, an arrangement of machines, tools, and workers in which a product is assembled by having each perform a specific, successive operation on an incomplete unit as it passes by in a series of stages organized in a direct line.

Industrialization

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