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American Industry

Chapter 14: The Exapansion of American Industry, 1865-1900 Review

QuestionAnswer
Cartel Loose association of businesses supplying the same product, often formed secretly; its members agree to limit supplies to keep prices high.
Horizontal consolidation Process of creating one giant business by bringing together smaller firms in the same field.
Economy of scale Producing or buying an item on a very large scale so the price per item goes down.
Trust Combination of companies that turn over their assets to a board of trustees to control prices and competition in a particular industry.
Monopoly Control of a commodity or service extending to the elimination of competition and fixing of prices.
Collective Bargaining Negotiation between employers and workers, usually through a labor union.
Socialism The economic and political philosophy that advocates c
Anarchist
Haymarket Square
Pinkerton
Transcontinental Railroad
Social Dawrwinism
Pullman Strike
Homestead Strike
Vertical Consolidation
Ellis Island
Andrew Carnegie
John Roebling
Thomas Edison
Alexander Graham Bell
Samuel F.B. Morse
John D. Rockerfeller
Created by: TRygaard
Popular U.S. History sets

 

 



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