U.S. History IILarge Group and

LectureExpectations

What we expect…..What we expect…..• Be On Time!Be On Time!• Be Prepared (Unipac, Bathroom,pen/pencil).Be Prepared (Unipac, Bathroom,pen/pencil).• Be Respectful. Be Respectful. • Take notes on information.Take notes on information.• Please remember your seat for Monday and Please remember your seat for Monday and

Thursday.Thursday.• NO FOOD OR DRINK IN L.G./LECTURENO FOOD OR DRINK IN L.G./LECTURE• NO ELECTRONIC DEVICES!!!!NO ELECTRONIC DEVICES!!!!

Capitalism and Capitalism and IndustryIndustry

Vocabulary

Capitalism

• Is an economic system based on private property.

-free enterprise

Socialism• Is an economic system in which the government owns the means of production.

Monopoly

• Is a market controlled by one producer

TrustTrust• Is a type of business consolidation Is a type of business consolidation

used in around 1900 to create a used in around 1900 to create a monopoly.monopoly.

CorporationCorporation

• Is a business Is a business organization organization owned by owned by stockholders.stockholders.

StockStock

• Is a certificate Is a certificate that shows part that shows part ownership in a ownership in a corporation.corporation.

DividendDividend

• Is a share of Is a share of the profits of the profits of a corporation.a corporation.

EntrepreneurEntrepreneur • Is a person who starts a Is a person who starts a

business.business.

Robber Barron

• Is a term used to describe industrialists implying corrupt practices.

Laissez-faireLaissez-faire

• Is a government policy Is a government policy of leaving business of leaving business alone; hands-off policy.alone; hands-off policy.

IndustryIndustry• Is the production and sale of Is the production and sale of

goods and services.goods and services.

RevolutionRevolution• Is a sudden (political) overthrow brought Is a sudden (political) overthrow brought

about from within a given system.about from within a given system.

TariffTariff

• Is a tax on Is a tax on imported goods.imported goods.

PatentPatent

• Is legal Is legal protection for protection for inventors.inventors.

Subsidies• Is government aid to business.

Urban• the city.

Rural• the countryside

Gilded AgeGilded Age

The period of industrial growth and The period of industrial growth and urbanization when things may have urbanization when things may have appeared better than they were.appeared better than they were.