Unit+1+Vocabulary

Industrial Revolution :
A major change in economy from agriculture to manufacturing

Industry:
Production of things to be sold. Ex: car and clothes industry

Company:
Someone or a group of people who create a business to make money. Ex: McDonalds and Burger King

Tycoon:
A wealthy business person. Ex: Bill Gates and John D. Rockefeller

Monopoly:
A company that has all the control in that section of business. Ex: no monopoly

Entreprenuer:
Someone who starts their own business. Ex: Henry Ford and Bill Gates

Corporation:
Really large companies that sell stock. Ex: Coca Cola and iRobot corporation

Philanthropy:
Charity Ex: Jimmy fund and ASPCA

Capitalism:
Business controled by the people not the government.

Robber Baron:
A person who makes a lot of money in a business.

Captain of Industry:
Successful business people.

Union:
People working together to protect the business.

Urbanization:
When a society become more advanced.

Social Darwinism:
Survival of the fittest. (It applies to the the businessmen because whoever works the hardest gets to the top and has a better and easier life. It applies to the workers because if they are not fit for the job and cant or wont do the work they will lose their job because there are no laws protecting them, if they lose their job they cant make money to make a living. It applies to the 2nd IR by both of thses examples.)