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Section 2, Page 201
The Rise of Big Business-2
Question | Answer |
---|---|
Capitalism | A system in which private businesses ran most industries and competition decided how much goods cost and workers were paid. |
Free Enterprise | An idea where if businesses were left free of government regulation than the economy would prosper. |
Communism | A theory in which individual ownership of property should not allowed, all property and means of production should be owned by the entire community. |
Social Darwinism | The belief that the "fittest" business should, and would, rise to power while the "weak" business would fail. |
Corporation | A place where organizers raise money by selling shares of stock, or certificates of ownership, in the company. |
Trust | Where a group of companies turn control of their stocks over to a common board of trustees. |
Monopoly | An exclusive control of an industry. |
Vertical Integration | The acquiring of companies that provided materials and services upon which enterprises depend. |
Horizontal Integration | One company's control of other companies producing the same product. |
Cornelius Vanderbilt | A pioneer in the railroad industry. |
George Pullman | A railroad giant who designed and manufactured railroad cars which were capable of making long distance rides more comfortable. |
Horatio Alger Jr. | The publisher of many books that reflected the increasing importance placed on individualism. |
Andrew Carnegie | A steel leader who was a master at utilizing the new business strategies. |
John D. Rockefeller | One of the founders for the "Standard Oil Company." |