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Unit 9 Vocabulary

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