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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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Term
Definition
Patent   A patent is a grant by the federal government giving an inventor the exclusive right to develop,use, and sell an inventions for a set period of time.  
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Entrepreneur   People who invest in a product or enterprise in order to make a profit.  
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Protective tariff   Taxes that would make imported goods cost more than those made locally.  
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Laissez faire   Police's that allowed businesses to operate under minimal government regulation.  
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Suspension bridges   Bridges with roadways suspended by steel cables.  
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Time zone   Any of the 24 longitudinal areas of the world within which same time is used.  
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Mass production   A system for turning out large numbers of products quickly and inexpensively.  
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Corporation   A group of people sharing ownership of a business.  
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Monopoly   Complete control of a product or service.  
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Cartel   Association of producers of a good or service that prices and control stocks in order to monopolize the market.  
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Horizontal integration   System of consolidating many firms in the same business  
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Trust   Companies assign their stock to a bored of trustees, who combine then into a new organization.  
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Vertical integration   System of consolidating firms involved in all steps of a product's manufacture.  
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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 destined to rule over them.  
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Sweatshop   Small factory where employees have to work long hours under poor conditions for little pay.  
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Company town   Community whose resident 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   System or theory under which the means of production are publicly controlled and regulated rather than owed by individuals.  
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Bessemer process   Method developed in the mid-1800s for making steel for more efficiently.  
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Entrepreneur   Person who invests money in a product or business with the goal of making a profit.  
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Created by: Nyakord
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