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23 Cards in this Set
- Front
- Back
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entrepreneur |
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
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Protective tariff |
imposed in order to raise government revenue, or to reduce an undesirable activity (aim of protecting a domestic industry)
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laissez-faire |
no government interference in business |
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Patent
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a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention
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Thomas Edison |
US inventor, received more than 1000 patents |
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Bessemer Process |
a steel-making process
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Suspension Bridge
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bridge in which the weight of the deck is supported by vertical cables suspended from larger cables that run between towers and are anchored in abutments at each end
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Mass Production |
manufacture of large quantities of standardized products, frequently utilizing assembly line technology
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Corporation |
a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law
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Monopoly
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the exclusive possession or control of the supply or trade in a commodity or service
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JD Rockefeller |
Oil tycoon |
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Horizontal Integration
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process of a company increasing production of goods or services at the same part of the supply chain
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Trust |
confidence placed in a person by making that person the nominal owner of property to be held or used for the benefit of one or more others
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Andrew Carnegie |
Steel tycoon |
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vertical integration
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the combination in one company of two or more stages of production normally operated by separate companies
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social darwinism
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the theory that individuals, groups, and peoples are subject to the same Darwinian laws of natural selection as plants and animals
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Interstate Commerce Commission
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A body within the U.S. Department of Congress, charged with regulating the pricing of the movement of goods across state lines
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Sherman Antitrust Act (SAA)
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that prohibits monopolies or unreasonable combinations of companies to restrict or in any way control interstate commerce
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Collective Bargaining
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negotiation of wages and other conditions of employment by an organized body of employees
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Socialism |
political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole
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Samuel Gompers
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American labor union leader and a key figure in American labor history, founded the American Federation of Labor (AFL)
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American Federation of Labor(AFL)
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national federation of labor unions in the United States. It was founded in Columbus, Ohio, in December 1886
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Eugene V Debs
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imprisoned in the 1890s for illegally encouraging a railway strike
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