7th SS Topic 10 10.4-10.6 Key Terms

Question 1

A new process of turning iron into steel.

Answer 1

Bessemer Process

Question 2

The steps used to change raw materials into finished products.

Answer 2

Vertical integration

Question 3

Business that is owned by investors.

Answer 3

Corporation

Question 4

Partial ownership of a company.

Answer 4

Stock

Question 5

Shares of a corporations profit.

Answer 5

Dividend

Question 6

Group of corporations run by a single board of directors.

Answer 6

Trust

Question 7

A company or group having control of all or nearly all the business of an industry.

Answer 7

Monopoly

Question 8

Economic system in which businesses are owned by private citizens who which decide what to produce , how much to produce, and the price.

Answer 8

Free Enterprise System

Question 9

An 1890 law that banned the formation of trust and monopolies in the United States.

Answer 9

Sherman Antitrust Act

Question 10

Rockefellers empire marked this economical term.

Answer 10

Supply and demand

Question 11

Limited supply of something

Answer 11

Scarcity

Question 12

A work place were people labor a long time in poor conditions.

Answer 12

Sweatshop

Question 13

A union formed in 1869 for skilled workers.

Answer 13

Knights of Labor

Question 14

Replacements for striking workers.

Answer 14

Strikebreakers

Question 15

People who oppose all forms of organized government.

Answer 15

Anarchist

Question 16

Eight Anarchist were arrested for this.

Answer 16

Haymaker Riot

Question 17

A union that was formed in 1886 for skilled workers and was calledThe American Federation of Labor.

Answer 17

Afl

Question 18

A union of persons working the same trade.

Answer 18

Trade Union

Question 19

The right of unions to negotiate with other management for working.

Answer 19

Collective Bargining

Question 20

A trade union for women.

Answer 20

International Ladies’ Garment Workers Union

Question 21

Bunch of big fires that 150 people died.

Answer 21

Triangle Fire

Question 22

Licenses to invent inventions.

Answer 22

Patent

Question 23

A journey across the Atlantic

Answer 23

Transatlantic

Question 24

Ford introduced this in 1913.

Answer 24

Moving Assembly Line

Question 25

Means making stuff in large quantities.

Answer 25

Mass Production.