Jarek Chapt. 4 Vocab
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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| entrepreneus | people who invest in money in a product enterprise to make a profit
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| protective tariffs | taxes that make imported goods cost more than made locally
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| patent | grant by federal government giving an exclusive rights to develop use and sell over time
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| bessemer process | method in 1800's for making steel more efficiently
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| suspension bridge | bridges which roadway is suspended by steel cables
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| time zone | 24 longitudinal areas of the world where same time is use
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| mass production | production of goods in large numbers through machinery and assembly line
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| corporation | number of people share ownership of a business
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| monopoly | complete control of a product or service
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| cartel | producer of goods, services that prices and control stock to monopolize the market
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| horizontal integration | system of many firms in the same business
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| trust | group of separate companies placed under control of a single managing board to form a monopoly
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| vertical integration | reduce cost and charge higher prices to competitors
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| social darwinism | belief that certain nations and races were superior to others and rule them
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| interstate commeerce commission (ICC) | first federal agency monitoring business operations to oversee railroad procedures
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| sherman antitrust act | outlawed any trust that operated in a trade
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| sweatshops | worker toiled 12 hours 6 days small hot dark dirty warehouse
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| company towns | workers who was forced to live in isolated communities near workplace
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| collective bargining | negotiating as a group for higher wages
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| socialism | economic and political philosophy that favors public instead of private individuals
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| knights of labor | labor union sought to organize all workers and focus on broad social reforms
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| american federation | labor union orginized skilled workers in specif trade and small demands than seeking change
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| haymarket riot | 1886 labor related protest in chicago
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| homestead strike | 1892 strike against carnegie's steelworkers
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| pullman strike | 1894 railway workers strike outside of chicago and spread nationwide
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| laissez faire | absent of government control over private business
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Created by:
jarekboyd
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