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Big Business' rise
Diefine
| Question | Answer |
|---|---|
| Capitalism | Economic system in which private business runs most industries, and competition determines how much goods cost and workers are paid. |
| Free Enterprise | Belief that the economy will prosper if business are left free from the government regulation and allowed to compete in a free market. |
| Communism | A theory that proposes that all people should own property and the means of production and that individual ownership should not be allowed. |
| Social Darwinism | A theory by Herbert Spencer. He argued that society progresses through competition. |
| Corporation | Company that sells shares of ownership called stock to investors in order to raise money. |
| Trust | Grouping several companies under a single board od directors to eliminate competition. |
| Monopoly | Exclusive economic control of an industry. |
| Vertical Integration | Ownership of businesses involved in each step of a manufacturing process. |
| Horizontal Integration | Ownership if several companies that make the same product. |
| Cornelius Vanderbilt | Owned a railroad shipping company during the Civil War. |
| George Pullman | Owned factories that built high class passenger-railroad-cars. |
| Horatio Alder Jr. | Published a popular series of novels that reflected the increasing importance placed on individualism. |
| Andrew Carnegie | Was the founder of his steel company. |
| John D. Rockefeller | A founder of the standard oil company. |
Created by:
kwaters
Popular U.S. History sets