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Ch20 Vocabulary
| Term | Definition |
|---|---|
| labored | to work or try hard |
| consolidation | the practice of combining different companies into one |
| individual | a single person |
| railroad baron | powerful business leader who controlled a major railroad |
| standard gauge | 4 feet, 8.5 inches, the distance between rails agreed upon by all railroad companies |
| rebate | a discount or return of part of a payment |
| pool | a group sharing in some activity, for example, among railroad barons who made secret agreements and set rates among themselves |
| transmit | to send a message by electronic signal; to pass from one person or place to another |
| phonograph | a device for reproducing sounds by means of using a needle that follows grooves made on cylinders, such as the ones here, or on a disc |
| mechanism | a set of moving or working parts in a machine or other device |
| Model T | early Ford car |
| assembly line | factory method in which work moves past stationary workers who perform a single task |
| mass production | factory production of goods in large quantities |
| factors of production | land, labor, and capital used to make goods and services |
| entrepreneur | a person who starts a business |
| corporation | legally defined organization of people and resources with the purpose of doing business |
| stock | shares of ownership a company sells in its business |
| shareholders | a person who invests in a company by buying stock |
| dividend | a stockholder’s share of a company’s profits, usually as a cash payment |
| partner | a person who takes part in an activity with others, especially in the operation of a business |
| trust | a combination of firms or corporations formed by a legal agreement, especially to reduce competition |
| monopoly | total control of a type of industry by one person or one company |
| trend | a general direction of events |
| merger | the combining of two or more businesses into one |
| sweatshop | a shop or factory where workers work long hours at low wages under unhealthy conditions |
| labor unions | organization of workers who seek better pay and working conditions |
| identify | to show or prove who someone is; to recognize someone or something |
| collective bargaining | discussion between an employer and union representatives of workers over wages, hours, and working conditions for the union membership as a whole |
| environment | a person's surroundings |
| strikebreaker | person hired to replace a striking worker in order to break up a strike |
| injunction | a court order to stop something from happening |
Created by:
leahm8
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