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Rise of Buisness
The Rise of Big
Question | Answer |
---|---|
Capitalism | Which Private business run most industries. |
Free Enterprise | Belief that the economy will prosper if business are left free from government regulation and allowed to compete in a free market. |
Communism | Political theory that proposes that all people should collectively own property and the means of production and that individual owner ship should not be allowed. |
Social Darwinism | Theory adapted by by philosopher Herbert Spencer from Charles Darwin's theory of evolution. |
Corporation | A company that sells shares of ownership called stock to investors in order to raise money. |
Trust | Arrangement grouping several companies under a single board of directors to eliminate competition and to regulate production. |
Monopoly | Exclusive economic control of an industry. |
Vertical Integration | Ownership of business involved in each step of a manufacturing process |
Horizontal Integration | Ownership of several companies that make the same product. |
Cornelius Vanderbilt | A Pioneer of the railroad industry. |
George Pullman | One of the most successful railroad giants. |
Horatio Alder Jr. | Published a popular series of novels that reflected the increasing important placed on individualism. |
Andrew Carnegie | A master at utilizing business strategies. |
John D. Rockefeller | A founder of the standard Oil company. |