chapter 4 vocab
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| 1. Entreprenuer | people who invest money in a product to gain a profit
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| 2. protective tarriffs | taxes that made imported goods cost more than local goods
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| 3. laissez-faire | policies that allowed businesses to operate with little government regulations
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| 4. patent | a grant given by the federal government giving an inventor the right to develop, use and sell an invention for a set period of time
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| 5. bessemer process | a process for purifying iron making strong but lightweight steel
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| 6. suspension bridges | bridges suspended on steel cables
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| 7. time zones | Zones for each hour of the day that divided the globe. The railroad adopted the system which is still used today.
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| 8. mass production | systems for making large numbers of products
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| 9. corporation | number of people sharing a business
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| 10. monopoly | complete control of a product or service
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| 11. cartel | arrangement of businesses that made the same product to agree to limit their production and thus keep prices high
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| 12. horizontal integration | system of consolidating many firms into one business
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| 13. trust | companies assigned their stock to a board of trustees who combined them into a new organization
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| 14. vertical integration | allowed companies to reduce cost and charge higher prices
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| 15. social Darwinism | theory to the rough-and-tumble world of American capitalism
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| 16. Interstate Commerce Commission | first federal body ever set up to monitor American business operations
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| 17. Sherman Antitrust Act | an act which outlawed any trust that operated "in restraint of trade or commerce among the several states"
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| 18. sweatshops | hot, dark and dirty places where workers toiled long 12 hour days, 6 day a week
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| 19. company towns | housing and communities owned by businesses and rented out to employees
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| 20. collective bargaining | technique factor workers used to try to gain more power against employers
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| 21. socialism | economic and political philosophy that favors public instead of private control of property and income
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| 22. American Federation of Labor | a loose organization of skilled workers from some 100 unions devoted to specific crafts or trades
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| 23. Haymarket Riot | a riot in which protesters gathered at Haymarket Square in Chicago. Dozens of people were killed, both rioters and police.
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| 24. Homestead Strike | part of an epidemic of steelworker's and miner's strikes that took place as economic depression spread across America
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| 25. Pullman Strike | The American Railway Union (ARU) called for a nationwide strike. By June of 1894, nearly 300,000 rail workers walked off their jobs.
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| 26. Knights of Labor | a labor union formed by Uriah Smith Stephens that was a secret society to broad social reform such as replacing capitalism with workers cooperatives
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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