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30 Cards in this Set
- Front
- Back
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What was mass production?
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The production of goods in large quantities
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What is monopoly?
Hint: think of the game! |
Monopoly is complete/total control over a type of industry by a company
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What is an injunction?
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An injunction is a court order to stop an action, such as a strike.
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What is a rebate?
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A deduction in $ from an amount to be paid in return to your part of the payment (the $ you get back)
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What is a corporation?
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A business where investors own shares
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What is a pool?
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A group sharing in some type of activity
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What is an assembly line?
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A production system / method with machines and workers made so that each person performs a specific task over and over.
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What is collective bargaining?
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When people as a group negotiate and go against (calmly) the employer. This way it is harder to get fired.
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What is a philanthropist?
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A rich person who donates their money to charities and organizations (ex- John D Rockefeller)
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What is a standard gauge?
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A uniform that is 4 in and 8.5 in wide used for railroad tracks.
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What is a shareholder?
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A person that puts money in companies profits and buys stocks, and is a partial owner of those stocks
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What are trusts?
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Th combination of firms or corporations and is used to eliminate competition
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What is consolidation?
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The combining of separate firms into one
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What is a dividend?
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A share of profits received by a stockholder in an insurance society
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Another word for patent?
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Copyright
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What is the difference between horizontal integration and vertical integration?
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HI: the combining of competing firms into one corporation
VI: the combining of companies that supply equipment for your industry |
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What is a stock?
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When people place money in a business and they receive money based on how well the business is doing
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Samuel Gompers
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Leader of the AFL (American Federation of Labor)
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Eugene V Debs
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Led the Pullman Strike
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Gustavus Swift
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Invented refrigerated carts which helped ship meat
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George Westinghouse
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Developed / Devised air brakes
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Henry Ford
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Invented cards (Ford), mass production, assembly lines, and the first model T
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Terrance V Powderly
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Leader of the Knights of Labor
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Andrew carnegie
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Scottish immigrant that dominated the steel industry
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J.P. Morgan
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Purchased the steel industry from Andrew Carnegie
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George Eastman
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Invented the Kodak camera
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What was the Sherman Anti Trust Act and why was it made?
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The law was passed because of public pressure for a federal law and it was a law that protected trade and commerce against monopoly.
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What was the American Federation of Labor?
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A group of national trade unions formed a federation which represented skilled workers
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Alexander Graham Bell
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Invented the telephone
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What affect did the Pullman strike have on Americans
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Americans started viewing unions as terrorists
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