Chapter 4
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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entrepreneur | people who invest money in a product or enterprise in order to make a profit
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protective tariffs | taxes that would make imported goods cost more than those made locally
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laissez-faire | policies which allowed businesses to operate under minimal government regulation
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patent | a grant by the federal government giving an inventer the exclusive right to develop, use, and sell an invention of a set period of time
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Bessemer process | method developed in the mid-1800s for making steel more efficiently
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suspension bridges | bridges in which the roadway is suspended by steel cables
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time zone | any of the 24 longitudinal areas of the world within which the same time is used
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mass production | turning out large numbers of products quickly and inexpensively
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corporation | company that has rights to separate from each of its members
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monopoly | complete control of a product or service
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cartel | association of products of a good or service that prices and controls stocks in order to monopolize the market
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horizontal integration | consolidating many firms in the same business
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trust | group of separate companies that are placed under the control of a single managing board in order to form a monopoly
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vertical integration | allowed companies to reduce costs and charge higher prices to competitors
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Social Darwinism | the belief held by some in the late nineteenth century that certain nations and races were superior to others and therefore defined to rule over them
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Interstate Commerce Commission (ICC) | first federal agency monitoring business operations, created in 1887 to oversee interstate railroad procedures
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Sherman Antitrust Act | outlawed any trust that operated "in restraint of trade or commerce among the several law was often used in the corporations" favor, as they argued that labor unions restrained trade
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sweatshop | small, hot, dark, and dirty workhouses
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company town | community whose residents rely upon one company for jobs, housing, and shopping
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collective bargaining | process in which employers negotiate with labor unions about hours, wages, and other working conditions
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socialism | an economic and political philosophy that favors public, instead of private, control of property and income
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Knights of Labor | labor union that sought to organize all workers and focused on board social reforms
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American Federation of Labor (AFL) | a craft union, a loose organization of skilled workers from some 100 local unions devoted to specific crafts or trades
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Haymarket Riot | 1886 labor-related protest in Chicago which ended in deadly violence
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Homestead Strike | 1892 strike against Carnegie's steelworks in Homestead, Pennsylvania
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Pullman Strike | violent 1894 railway workers' strike which began outside of Chicago and spread nationwide
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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.
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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