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12 Cards in this Set
- Front
- Back
Bessemer Process |
a steel-making process in which carbon, silicon, & other impurities are removed from molten pig iron by oxidation in a blast of air in a special tilting retort (a Bessemer converter ).
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Interstate Commerce Act |
Made in 1887 a U.S. federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates. |
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Monopoly |
Exclusive possession or control of the supply or trade in a commodity or service. |
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Horizontal Integration |
The process of a company increasing production of goods or services at the same part of the supply chain. |
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Union |
The action of joining |
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Sweatshop |
a factory or workshop, especially in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions. |
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Transcontinental Railroad |
Train route that went across the U.S and was completed in 1869
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Sherman Antitrust Act |
A federal landmark in the U.S. that was made in history for the Antitrust law in 1890 made by Congress |
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Vertical Integration |
Combination in a single company of 2 or more stages of production that are normally operated by different companies |
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Social Darwinism |
Theory that everyone is subject to follow the same Darwinian laws or natural selection as plants and animals. |
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Robber Baron |
An American capitalist that recieved money in the late 19th century by ruthless means. |
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Strike |
Refusing to do something. |