| Question | Answer |
| pools | agreements to maintain prices at a certain level |
| Samuel Gompers | American Federation of Labor's first leader |
| deflation | or a rise in the value of money |
| andrew carnegie | illustrated many of the different factors that led to industrialism and the rise of big business |
| stock | shares of ownership of a corporation |
| horizontal integration | or combining many firms engaged in the same type of business into one large corporation |
| monopoly | when a single company achieves control of an entire market |
| closed shops | meaning that companies could only hire union members |
| economies of scale | is when corporatoins make goods more cheaply because they produce so much so quickly using large manufacturing facilities |
| fixed costs | are cost a company has to pay |
| arbitration | a process in which an impartial third party helps workers and management reach an agreement |
| trade unions | limited to people with specific skills |
| stockholders | people who own the corporation |
| knights of labor | the first nationwide industrial union |
| Women's Trade Union League | the first national assocation dedicated to promoting women's labor issues |
| operating costs | are costs that occur when running a company |
| blacklist | workers who tried to organize a union or strike were fired and placed on a list of "troublemakers". |
| industrial unions | united all craft workers and common workers and common laborers in a particular industry |
| corporation | an organization owned by many people but treated by law as though it were a single person |
| marxism | ideas of karl marx |
