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23 Cards in this Set

  • Front
  • Back
PRODUCTIVITY
The rate of output of production.
BESSEMER PROCESS
Blast of hot air directed at melted iron to reduce its impurities.
STANDARD GAUGE
Common distance between the rails of a railroad track.
AN ELECTRIC GENERATOR
dynamo
CORPORATIONS
When a state gives a group the right to sell shares of stock.
DIVIDENDS
Aportinn of the profits from stocks.
ECONOMIES OF SCALE
The more you make of a product the cheaper it is to make.
LIMITED LIABILITY
If a corporation goes into debt, each stockholder will lose only what they invested.
VERTICAL INTEREGATION
Combining the steps in turning a raw matirial into a finished product.
HORIZONTAL INTEGRATION
The process of expanding in one area of production.
PROMOTIONS
Gimmicks designed to increase sales.
PATENT WARS
Legal battles over who owned patents for a product.
INSTALLMENT PLAN
Paying a small sum of money over several months for a product.
LAISSEZ FAIRE
French Phrase
"let people do as they choose."
MORRILL TARIFF
Called for an increase in tariff rates.
NATIONAL BANKING ACT
Aided big business by creating a system of federally licensed banks.
INTERSTATE COMMERCE
Doing business acros state lines.
MORRILL ACT
Granted land to each state to be used for collagees teaching agriculture and mechanical arts.
SUBSIDIES
Payments to support business.
POOL
An agreement among firms to control output and divide up the market.
TRUST
A group of companies whose stock is controlled by a central board of business.
INTERSTATE COMMERCE ACT
Made sure that railroads charged "reasonable and just"rates.
SHERMAN ANTITRUST ACT
To prevent corporations from trying "to monopolize trade or commerce among the states."