Term | Definition |
monopoly | a company that has control of an entire industry |
free enterprise | An economic system in which people are free to start their own businesses and own their own property- the economic system of the USA. |
capital resources | The money, tools, machines, buildings, and equipment a company uses to provide and/or produce goods and services. |
human resources | The people who work to produce goods and services. |
consumer | A person who buys and/or uses goods and services. |
investor | A person who gives money to a business or project, hoping to make a profit (earn money). |
stock | A share of a company that is sold to an investor. |
corporation | A business owned by investors. |
diversity | Variety, an assortment |
prejudice | An unfair negative opinion about a group of people. |
labor union | A group of workers joined together to fight for improved working conditions and better wages and benefits. |
sweatshop | A factory or workshop where people work under poor conditions. |
strike | The refusal of workers to work until business owners meet their demands. |
Alexander Graham Bell | Inventor of telephone |
Andrew Carnegie | The builder of a huge steel empire. |
Thomas Edison | Inventor of the electric light bulb and the phonograph (record player). |
Labor Day | A holiday to celebrate American workers. |
Angel Island | A West Coast entrance site for Asian immigrants, near San Francisco. |
Ellis Island | An East Coast entrance site for European immigrants, near New York City. |
John Rockefeller | Businessman who founded Standard Oil of Ohio, monopolist. |