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19 Cards in this Set
- Front
- Back
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cornelius vaderbilt was able to gain control of what?
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most railroad indistries
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the growth of railroads also benifited what?
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lumber, steel, and coal indistries
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the railroad indistry often offered discounts to bigger customers which forced many small railroad companies to do what?
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go out of business
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some people critized monopolies becuase of what?
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they felt that large corporations reduced competition
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steel became important after the civil war because what?
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because railroads used it for making rails
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telephone improved what?
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cumunication
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the assembly line affected the auto indisties becuase of what?
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cars could be made quicker and cheaper so more people could buy cars then
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the early labor unions tried to do what? and because of that it made what?
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tried to end child labor and it made work days shorter and increase wages
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a consumer is someone who does what?
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purchases something for their use
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turning resources into services and products is called what?
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producing
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machines and tools used in producing is known as what?
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capital
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the difference between revenue(a business generates from its good and or services) and the cost ( producing those goods and or services) is called what?
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profit
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a guaranteed hourly wage is called what?
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minimum wage
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choosing to buy one thing instead of another due to money limitations is called what?
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opportunity cost
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an assembly line is what?
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a manufacturing process that used standerzied parts for mass production of goods
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a barter occurs when what happens?
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its when someone trades a valuable good for another item of value
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the name of our store is what?
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Winter Wounderland Gift Shoppe
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a resource that is easly replaced is what?
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renwable resource
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a resource that can NOT easly be replaced is what?
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nonrenewable resource
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