David ParkChapter 6 History Notes.Early industrial revolution Britain stood as world’s industrial giant. Germany France and The US had more abundant supplies of coal iron and other resources than did Britain. British engineer Henry Bessemer: independently developed a new process for making steel from iron. Steel>Iron. Swedish chemist Alfred Nobel: invented dynamite, an explosive much safer than others used at the time. English chemist Michael Faraday: created the first simple electric motor and the first dynamo: a machine that generates electricity. Thomas Edison made the first electric light bulb. Interchangeable parts: identical components that could be used in place of one another. Italian pioneer Guglielmo Marconi: had invented the radio. Stock: or shares in their companies, to investors. These businesses formed giant corporation: businesses that are owned by many investors who buy shares of stock. Cartel: an association to fix prices, set production quotas, or control markets.
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