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Rise of Buisness

The Rise of Big

QuestionAnswer
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.
Created by: Luke Rasberry