Manifest Destiny
19th century doctrine that westward expansion of the United States was not only inevitable but a God given right
Expansionist
person who favors expanding the territory or influence of a country
Assimilate
to be absorbed into the main culture of a society
Transcontinental Railroad
rail link between the eastern and the western United States
Homestead Act
1862 law that gave 160 acres of land to citizens willing to live on and cultivate it for 5 years
Entrepreneur
person who invests money in a product or business with the goal of making a profit
Protective Tariff
tax on imported goods making the price high enough to protect domestic goods from foreign competition
Laissez Faire
lenient, as in the absence of government control over private business
Patent
official rights given by the government to an inventor for the exclusive right to develop, use, and sell an invention for a set period of time
Mass Production
production of goods in large numbers through the use of machinery and assembly lines
Corporation
company recognized as a legal unit that has rights and liabilities separate from each of its members
Monopoly
exclusive control by one company over an entire industry
Trust
group of separate companies that are placed under the control of a single managing board in order to form a monopoly
sweatshop
small factory where employees have to work long hours under poor conditions for little pay
Collective Bargaining
process in which employers negotiate with labor unions about hours, wages, and other working conditions
Socialism
system or theory under which the means of production are publicly controlled and regulated rather than owned by individuals