People who invent money in a product or enterprise in order to make a profit.

Taxes placed on imported good making them more expensive than locally made items.

Allowed businesses to run under minimal government regulations.

Grant from government giving rights to sell and produce inventions for a period of time.

A process of purifying iron to make in stronger and more efficiently.

Bridges over roads suspended by steel cables.

Depends on machinery to make goods at much faster rate than products made with hand tools.

A form of ownership with a group of investors.

The only place that sells a certain product or service; therefore has control of how much a service costs.

An urge to shut down small businesses to create monopolies.

Horizontal Integration

Creation of large firms that own many small businesses.

Companies give stock to trustees that then in return place that stock in the hands of other companies.

Companies lowered costs to public and charged other companies more.

Applying Charles Darwin's Theory of Evolution to recent economic situations. (Survival of the fittest.)

Interstate Commerce Commission

Government operations to oversee railroads

dirty, dark work house. (Mostly under-paid immigrants.)

Workers forced to live in areas really close to work.

Collective bargaining

a group FOR higher wages and better working conditions

Economic/Political philosophy that likes public control over property and income.

Labor unions devoted to replacing capitalism.

American Federation of Labor

group on unions with specific trades and skills.

Riot breaking out in Chicago that killed two policemen and 6 anarchist.

strike of steelworkers and miners that cause small economic depression.

300,000 railroad workers quit their jobs and that stopped most of all mail and resource transportation.

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Chapter 4

Chapter 4 voab

Term	Definition
Entrepreneurs	People who invent money in a product or enterprise in order to make a profit.
Protective Tariffs	Taxes placed on imported good making them more expensive than locally made items.
Laissez-faire	Allowed businesses to run under minimal government regulations.
Patent	Grant from government giving rights to sell and produce inventions for a period of time.
Bessemer Process	A process of purifying iron to make in stronger and more efficiently.
Suspension Bridges	Bridges over roads suspended by steel cables.
Time Zones	One for each hour of the day.
Mass Production	Depends on machinery to make goods at much faster rate than products made with hand tools.
Corporations	A form of ownership with a group of investors.
Monopoly	The only place that sells a certain product or service; therefore has control of how much a service costs.
Cartel	An urge to shut down small businesses to create monopolies.
Horizontal Integration	Creation of large firms that own many small businesses.
A Trust	Companies give stock to trustees that then in return place that stock in the hands of other companies.
Vertical Integration	Companies lowered costs to public and charged other companies more.
Social Darwinism	Applying Charles Darwin's Theory of Evolution to recent economic situations. (Survival of the fittest.)
Interstate Commerce Commission	Government operations to oversee railroads
Sherman Antitrust Act	Allowed Trusts
Sweatshops	dirty, dark work house. (Mostly under-paid immigrants.)
Company Towns	Workers forced to live in areas really close to work.
Collective bargaining	a group FOR higher wages and better working conditions
Socialism	Economic/Political philosophy that likes public control over property and income.
Knights of Labor	Labor unions devoted to replacing capitalism.
American Federation of Labor	group on unions with specific trades and skills.
Haymarket Riot	Riot breaking out in Chicago that killed two policemen and 6 anarchist.
Homestead strike	strike of steelworkers and miners that cause small economic depression.
Pullman Strike	300,000 railroad workers quit their jobs and that stopped most of all mail and resource transportation.