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Topic 10 Vocab
| Question | Answer |
|---|---|
| anarchist | person who opposes organized government |
| capitalism | an economic system based on the private ownership of property, a market economy, and the goal of making a profit, or income, from the use of one's property |
| collective bargaining | a process by which a union representing a group of workers negotiates with management for a contract |
| consolidate | to combine |
| corporation | business that is owned by investors whose risk of loss is limited |
| dividend | share of a corporation profit |
| inflation | a rise in prices and a decrease in the value of money |
| mass production | process of making large quantities of a product quickly and cheaply |
| monopoly | a company or group having control of all or nearly all of the business of an industry |
| morrill acts | the acts passed in 1862 and 1890 that provided public land for agricultural colleges |
| moving assembly line | method of production in which workers stay in one place products pass along a track or moving belt |
| network | a system of connected railroad lines |
| patent | license for a new invention |
| pool | a system in which several railroad companies agreed to divide up the business in an area and set prices |
| rebate | a discount |
| reservation | a limited area of land set aside for american indians |
| sodbuster | a farmer on the great plains in the late 1800's |
| stock | a share of ownership in a corporation |
| strikebreaker | replacement for a striking worker |
| subsidy | a land grant or other financial help from the government |
| sweatshop | workplace where people labor hours in poor conditions for low pay |
| trade union | association of workers in a specific trade, or line of work, formed to gain higher wages and better working conditions |
| transcontinental railroad | a railroad that stretches across a continent from coast to coast |
| triangle fire | fire in 1911 at the triangle shirtwaist factory in new york that killed nearly 150 workers |
| trust | group of corporations run by single board of directors |