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47 Cards in this Set
- Front
- Back
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Industrial Revoloution
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machines helping people work, big coorperation
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Gross National Product
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The ($) amount of goods produced
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Natural Resources
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Resources from earth
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Human Resources
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Man Made
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Free enterprise
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the right for anyone to own and operate a buisness
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laissez Faire
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let people do as they choose
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Entrapenuer
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Someone who starts buisness from scratch
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Alexander Gram bell
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Intvented the tellephone, succesfull inventor
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Thomas Alva Edison
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Invented the lightbulb, also successful inventor
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Pacific Railway Act-
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Transcontinental Railroad by 2 companies
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Greenville Dodge
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Engineer in the charge of the railroad
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Central Pacific railroad
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The Central Pacific Railroad was the California-to-Utah portion of the First Transcontinental Railroad in North America.
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leland stanford
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an American tycoon, politician and founder of Stanford University.
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Cornelius Vanderbilt
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an American entrepreneur who built his wealth in shipping and railroads and was the patriarch of the Vanderbilt family.
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Land Grants
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ten square miles of land for every mile of track
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Credit Moviler scandal
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illegal manipulation of contracts by a construction and finance company associated with the building of the Union Pacific Railroad (1865–69);
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James Hill
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a noted Canadian-American railroad executive. He was the chief executive officer of a family of lines headed by the Great Northern Railway,
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Coorperation
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Owned by more than one company
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Stockholder
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One who owns shares of a stock in a coorperation
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Stock
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Tiny Bits of the company
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Economies of scale
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Supply and demand
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Fixed Cost
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business expenses that are not Dependant on the activity of the business
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Operating Costs
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What it costs to operate a buiness
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Andrew Carnegie
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industrialist, buisnessman, major philanthropist
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Bessemer Process
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the first inexpensive industrial process for the mass-production of steel from molten pig iron.
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Verticle Intergration
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Vertically integrated companies are united through a hierarchy with a common owner.
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Horizontal Intergration
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The aquisition of additional buisnesses on the same level of the value chain
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Monopoly
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when a specific individual or an enterprise has sufficient control over a particular product or service
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Trusts
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They were often created when corporate leaders convinced (or coerced) the shareholders of all the companies in one industry to convey their shares to a board of trustees, in exchange for dividend-paying certificates.
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Holding Companies
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a company that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself, rather its only purpose is owning shares of other companies.
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Deflation
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a decrease in the general price level of goods and services
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Trade Unions
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an organization of workers who have banded together to achieve common goals in key areas, such as working conditions.
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Industrial Unions
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a labor union organizing method through which all workers in the same industry are organized into the same union regardless of skill or trade
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Blacklist
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a list or register of persons who, for one reason or another, are being denied a particular privilege, service, mobility, access or recognition.
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Lockout
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a work stoppage in which an employer prevents employees from working. This is different from a strike, in which employees refuse to work.
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Marxism
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a Marxist analysis of capitalism, a theory of social change, and an atheist view of human liberation derived from the work of Karl Marx and Friedrich Engels; Marxist philosophy is three-fold:
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Great Railroad Strike of 1877
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investing a disproportionate share of depositors’ funds in the railroads caused this strike
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Knights of Labor
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demanding an end to child and convict labor, equal pay for women, a progressive income tax, and the cooperative employer-employee ownership of mines and factories. [2][3]
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Arbitration
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Negotiation
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Haymarket Riot
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a disturbance that took place on Tuesday May 4, 1886, at the Haymarket Square[3] in Chicago, and began as a rally in support of striking workers. An unknown person threw a bomb at police as they dispersed the public meeting.
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Pullman Strike
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The conflict began in the town of Pullman, Illinois on May 11 when approximately 3,000 employees of the Pullman Palace Car Company began a wildcat strike in response to recent reductions in wages,
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American Railway Union
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the largest union of its time, and one of the first industrial unions in the United States. It was founded on June 20, 1893, by railway workers gathered in Chicago, Illinois,
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Eugene V. Debs
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an American union leader, one of the founding members of the International Labor Union and the Industrial Workers of the World
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America federation of labor
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AFL was the largest union grouping in the United States for the first half of the twentieth century, even after the creation of the Congress of Industrial Organizations
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Samuel Gompers
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Gompers founded the American Federation of Labor (AFL), and served as the AFL's president from 1886-1894 and from 1895 until his death in 1924.
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Closed Shops
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a form of union security agreement under which the employer agrees to only hire union members, and employees must remain a member of the union at all times in order to remain employed.[1]
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Womens Trade Union Leauge
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a U.S. organization of both working class and more well-off women formed in 1903 to support the efforts of women to organize labor unions and to eliminate sweatshop conditions.
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