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social studies vocab
ch.19 the growth of industry
| Term | Definition |
|---|---|
| Consolidation | combining many loans into one single loan. After consolidating, you have only one interest rate and make only one monthly payment, instead of having multiple rates and payments. |
| Rebate | a partial refund to someone who has paid too much money for tax, rent, or a utility. |
| Pool (in business terms, not a swimming pool) | An underground accumulation of petroleum or gas in porous sedimentary rock. |
| Assembly Line | a series of workers and machines in a factory by which a succession of identical items is progressively assembled. |
| Mass Production | the method of producing goods in large quantities at low cost per unit. But mass production, although allowing lower prices, does not have to mean low-quality production. Instead, mass-produced goods are standardized by means of precision-manufactured, i |
| Stock | the goods or merchandise kept on the premises of a business or warehouse and available for sale or distribution. |
| Shareholder | an owner of shares in a company. |
| Trust (in terms of business) | A legal entity that acts as fiduciary, agent or trustee on behalf of a person or business entity for the purpose of administration, management and the eventual transfer of assets to a beneficial party. The entity acts as a custodian for trusts, estates, |
| Monopoly (in terms of business) | a situation in which one company or person or a government has no competition in the sale of a particular product or service and is able to control its supply and price: |
| Philanthropy | the desire to promote the welfare of others, expressed especially by the generous donation of money to good causes |
| Merger (in business terms) | The business arena is always evolving. Changes in consumer needs, the economy and business strategies can lead to transformations in how companies look and operate. One way small businesses can work to lower costs or launch new products or services is to |
| Sweatshop | a factory or workshop, especially in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions. |
| Trade Union | another term for labor union. |
| Strikebreaker | a person who works or is employed in place of others who are on strike, thereby making the strike ineffectual. |
| Injunction | a judicial order that restrains a person from beginning or continuing an action threatening or invading the legal right of another, or that compels a person to carry out a certain act, e.g., to make restitution to an injured party. |
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