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15 Cards in this Set

  • Front
  • Back
anarchist
a radical who opposes all government
scabs
negative term for a worker called in by am employer to replace striking laborers
homestead
one who formed claims under Homestead Act
social Darwinism
theory that society should do as little as possible to interfere with ones pursuit of success
collective bargaining
process in which workers negotiate as a group with employers
business cycle
periods in which a nations economy grows than contrasts
patent
a licence that gives an inventor the exclusive right to make use or sell an invention for a set period of time
division of labor
way of producing in which different tasks are performed by different persons
socialism
an economic and political philosophy that public (or social) instead of private control of property and income
cartel
loose association of businesses that make the same product
trust
a group of seperate companies that are placed under the contol of a single managing board
monopoly
complete control of a product or service
productivity
the amount of goods and services created in a given period of time
transcontinental railroad
railway extending from coast to coast
Bessemer process
a process for making steel more efficiently,