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The Rise of Business

QuestionAnswer
Capitalism an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Free enterprise an economic system in which private business operates in competition and largely free of state control.
Communism a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
Social Darwinism a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
Corporation a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
Trust firm belief in the reliability, truth, ability, or strength of someone or something.
Monopoly the exclusive possession or control of the supply or trade in a commodity or service
Vertical Integration the combination in one company of two or more stages of production normally operated by separate companies.
Horizontal Integration the process of a company increasing production of goods or services at the same part of the supply chain
Cornelius Vanderbilt Also known informally as "Commodore Vanderbilt", was an American business magnate and philanthropist who built his wealth in railroads and shipping.
George Pullman was an American engineer and industrialist. He designed and manufactured the Pullman sleeping car and founded a company town, Pullman, for the workers who manufactured it.
Horatio Alger Jr. was a prolific 19th-century American writer
Andrew Carnegie An American industrial leader of the late nineteenth and early twentieth centuries
John D. Rockefeller United States industrialist who made a fortune in the oil business and gave half of it away
Created by: Araianna herrick
Popular U.S. History sets

 

 



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