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Big Business

TermDefinition
corporations business that sells portions of ownership called stock shares
Andrew Carnegie business leader who concentrated his efforts on steel production
vertical integration ownership of businesses involved in each step of a manufacturing process
John D. Rockefeller business leader who concentrated on oil refining
Horizontal Integration owning all businesses in a certain field
trust a legal arrangement grouping together a number of companies under a single board of directors
Leland Stanford business leader of mining equipment and railroads
Jacob Tome an American banker
social darwinism belief that Charles Darwin's theory of natural selection and "survival of the fittest" holds true for humans
monopoly total ownership of a product or service
Sherman Antitrust Act law passed in 1890 that made it illegal to create monopolies or trusts that restrained trade
Knights of Labor large labor union that included both skilled and unskilled workers
American Federation of Labor group that organized individual national unions of skilled workers
Samuel Gompers leader of the American Federation of Labor
Pullman strike violent 1894 railway workers' strike which began outside of Chicago and spread nationwide requiring national troops to be sent in to stop it.
Collective bargaining workers negotiate as a group with employers
Second Industrial Revolution a period of rapid growth in the U.S. manufacturing in the late 1800s; characterized by advances in technology
Bessemer process Henry Bessemer's invention that was a way to manufacture steel quickly and cheaply
Second Industrial Revolution a period of rapid growth in the U.S. manufacturing in the late 1800s; characterized by advances in technology
Bessemer process Henry Bessemer's invention that was a way to manufacture steel quickly and cheaply
Thomas Edison inventor who created the electric lightbulb
Alexander Graham Bell Inventor of the telephone
patent an exclusive right to make or sell an invention; encouraged new inventions
Henry Ford inventor of the first affordable car and the moving assembly line
Wilbur and Orville Wright brothers who made the first piloted flight in a gas-powered airplane
Created by: MrsRoose
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