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Unit 9 Vocabulary

TermDefinition
Segregation setting one group apart from another
Industrial nation a country with a high level of development
Wages payment for labor or services from an employer to an employee, income earned for work
Corporation large businesses that are owned by several people
Income money received for working
Suffrage right to vote
Imperialism building an empire by claiming other countries, sometimes against their will
Capital the money it takes to start or improve a business
Tenement a poorly built apartment building
Industrialization an economic activity characterized by manufacturing of goods
Mass Production the creation of large amounts of goods in a short time
Specialization of Labor dividing up work for individuals to have specific tasks
Free Enterprise System also called a market economy; economy that relies mostly on market forces to distribute goods and resources and determine prices
Urbanization the migration of people to live in cities
Immigration moving from one's homeland to live in another place
Labor Union an organization formed by workers to provide for better working conditions
Entrepreneur a person who starts and runs ones own business
Sweatshop a workplace with very poor working conditions
Settlement House a house where workers help people in a poor neighborhood
Reform to change for the better
Innovation a new idea, method or device
Monopoly a market structure characterized by a single seller that faces no competition.
Created by: iris.bennett
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