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Chapter 14 : Review
Question | Answer |
---|---|
Define cartel | An association of manufacturers or suppliers that maintains prices at a high level and restricts competition |
Define horizontal consolidation | When local health plans (or local hospitals) merge |
Define economy of scale | The saving in cost of production that is due to mass production |
Define trust | Combination of companies that turn over their assets to a board of trustees to control prices and competition in a particular industry |
Define monopoly | Control of a commodity or service extending to the elimination of competition and the fixing of prices |
Define collective bargaining | Negotiation between employers and workers, usually through a labor union |
Define socailism | The economic and political philosophy that advocvates collective ownership of factories and property |
Define anarchist | |
Define haymarket square | |
Define pinkerton | |
Define transcontinental railroad | |
Define social darwinism | |
Define pullman strike | |
Define homestead strike | |
Define vertical consoldation | |
Define ellis island | |
Who was Andrew Carnegie? | |
Who was John Roebling | |
Who was Thomas Edison? | |
Who was Alexander Graham Bell? | |
Who was Samuel F.B. Morse? | |
Who was John D. Rockefeller? |