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