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16 Cards in this Set

  • Front
  • Back
Network
system of connected railroad lines
Consolidate
combine, such as businesses
Rebate
discount on services or merchandise
Pool
method of ending competition used by railroads and other businesses (late 1800s)
Vertical integration
method of controlling an industry from raw material to finished products
Capital
money raised for a business venture
Corporation
business owned by investors who buy shares in stock
Stock
shares in a corporation run by a single board of directors
Dividend
payment to stockholders from a corporation’s profits
Trust
group of corporations run by a single board of directors
Monopoly
company that completely controls the market of a certain industry
Free Enterprise System
economic system in which businesses are owned by private citizens, not by the government
Assembly line
method of production in which workers add parts to a product that moves along on a belt
Mass production
making large quantities of a product quickly and cheaply
Labor union
organization usually consisting of workers of the same trade that is formed for the purpose of advancing wages, benefits, and working conditions
Law of supply and demand
prediction that the price level will equalize quantities