People who build and manage businesses or enterprises in order to make profit, often risking their own money or livelihoods.

Taxes on imported goods making the price high enough to protect domestic goods from foreign competition.

A theory advocating minimal government interference in the economy.

Official rights given by the government to an inventor for the exclusive right to delevop, use, and sell an invention for a set period of time.

Production of goods in large numbers through the use of machinery and assembly lines.

Company recognized as a legal unit of rights and liabilities separate from each of its members.

Exclusive control by one company over an entire industry.

Association of producers of a good or service that prices and controls stocks in order to monopolize the market.

Group of separate companies that are placed under the control of a single managing board in order to form a monopoly.

Small factories where employees have to work long hours under poor conditions for little pay.

Communities in which residents rely upon one company for jobs, housing, and buying goods.

Collective Bargaining

Process in which employers negotiate with labor unions about hours, wages, and other working conditions.

Third-class accommodations on a steamship.

Society in which people of different nationalities assimilate to form one culture.

Inclination to favor native inhabitants as opposed to immigrants.

Expansion of cities and or an increase in the number of people living in them.

Multistory buildings divided into apartments to house as many residents as possible.

Conspicuous Consumerism

Purchasing of goods and services with the purpose of impressing others.

Similar cultural patterns throughout a society as a result of the spread of transportation, communication, and advertising.

Type of show that included dancing, singing, and comedy sketches and became popular in the late 19th century.

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Us His Vocab 2

Term	Definition
Entrepreneurs	People who build and manage businesses or enterprises in order to make profit, often risking their own money or livelihoods.
Protective Tariff	Taxes on imported goods making the price high enough to protect domestic goods from foreign competition.
Laissez-Faire	A theory advocating minimal government interference in the economy.
Patent	Official rights given by the government to an inventor for the exclusive right to delevop, use, and sell an invention for a set period of time.
Mass Production	Production of goods in large numbers through the use of machinery and assembly lines.
Corporation	Company recognized as a legal unit of rights and liabilities separate from each of its members.
Monopoly	Exclusive control by one company over an entire industry.
Cartel	Association of producers of a good or service that prices and controls stocks in order to monopolize the market.
Trust	Group of separate companies that are placed under the control of a single managing board in order to form a monopoly.
Sweatshop	Small factories where employees have to work long hours under poor conditions for little pay.
Company town	Communities in which residents rely upon one company for jobs, housing, and buying goods.
Collective Bargaining	Process in which employers negotiate with labor unions about hours, wages, and other working conditions.
Steerage	Third-class accommodations on a steamship.
Melting Pot	Society in which people of different nationalities assimilate to form one culture.
Nativism	Inclination to favor native inhabitants as opposed to immigrants.
Urbanization	Expansion of cities and or an increase in the number of people living in them.
Tenements	Multistory buildings divided into apartments to house as many residents as possible.
Conspicuous Consumerism	Purchasing of goods and services with the purpose of impressing others.
Mass Culture	Similar cultural patterns throughout a society as a result of the spread of transportation, communication, and advertising.
Vaudeville	Type of show that included dancing, singing, and comedy sketches and became popular in the late 19th century.

Created by: leii

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