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12 Cards in this Set
- Front
- Back
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Bessemer Process |
a steel-making process, now largely superseded, in which carbon, silicon, and other impurities are removed from molten pig iron by oxidation in a blast of air in a special tilting retort |
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Interstate Commerce Act |
federal law that was designed to regulate the railroad industry, particularly its monopolistic practices |
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Monopoly |
the exclusive possession or control of the supply or trade in a commodity or service |
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Horizontal Integration |
process of a company increasing production of goods or services at the same part of the supply chain |
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Union |
the action or fact of joining or being joined, especially in a political context. |
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Sweatshop |
a factory or workshop, especially in the clothing industry, where manual workers are employed at very low wages for long hours and under poor conditions |
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Transcontinental Railroad |
train route across the United States, finished in 1869 |
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Sherman Antitrust Act |
landmark federal statute in the history of United States |
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Vertical Integration |
the combination in one company of two or more stages of production normally operated by separate companies. |
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Social Darwinism |
term coined in the late 19th century to describe the idea that humans, like animals and plants, compete in a struggle for existence in which natural selection results in "survival of the fittest |
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Robber Baron |
an unscrupulous plutocrat, especially an American capitalist who acquired a fortune in the late nineteenth century by ruthless means. |
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Strike |
a refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer. |
