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