Key Terms Instructions: Please Define the Following Key Terms

question 14

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Island of Elba

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Definitions:

Pools

Agreements between companies to maintain prices at a certain level by controlling supply, a form of collusion often illegal in the U.S.

Market Forces

The economic factors affecting the price, demand, and supply of goods and services in a free market.

Railroads

Transportation networks consisting of tracks, trains, and stations used for the movement of goods and passengers, significantly contributing to economic development and expansion.

Second Industrial Revolution

A phase of rapid industrialization in the final third of the 19th century and the beginning of the 20th century, marked by significant advances in technology and production methods, including the spread of the steel industry and mass production.