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6.2

The Rise of Big Business

QuestionAnswer
Capitalism Investment in and ownership of means of production
Free Enterprise An economic system in which private operates in competition
Communism A political theory derived from Karl Marx
Social Darwinism Individual groups, and peoples are subject
Corporation Company or group
Trust Firm belief
Monopoly Possession or control
Vertical Integration combination in one company of two or more stages
Horizontal Integration process of a company increasing production
Cornelius Vanderbilt American busniess
George Pullman inventor of the Pullman sleeping car
Horatio Alder Jr. Wrote over 100 books
Andrew Carnegie leader of the American steel industry
John D. Rockefeller Built his first oil refinery near cleveland