7th SS Topic 10 10.4-10.6 Key Terms Flashcards
A new process of turning iron into steel.
Bessemer Process
The steps used to change raw materials into finished products.
Vertical integration
Business that is owned by investors.
Corporation
Partial ownership of a company.
Stock
Shares of a corporations profit.
Dividend
Group of corporations run by a single board of directors.
Trust
A company or group having control of all or nearly all the business of an industry.
Monopoly
Economic system in which businesses are owned by private citizens who which decide what to produce , how much to produce, and the price.
Free Enterprise System
An 1890 law that banned the formation of trust and monopolies in the United States.
Sherman Antitrust Act
Rockefellers empire marked this economical term.
Supply and demand
Limited supply of something
Scarcity
A work place were people labor a long time in poor conditions.
Sweatshop
A union formed in 1869 for skilled workers.
Knights of Labor
Replacements for striking workers.
Strikebreakers
People who oppose all forms of organized government.
Anarchist
Eight Anarchist were arrested for this.
Haymaker Riot
A union that was formed in 1886 for skilled workers and was calledThe American Federation of Labor.
Afl
A union of persons working the same trade.
Trade Union
The right of unions to negotiate with other management for working.
Collective Bargining
A trade union for women.
International Ladies’ Garment Workers Union
Bunch of big fires that 150 people died.
Triangle Fire
Licenses to invent inventions.
Patent
A journey across the Atlantic
Transatlantic
Ford introduced this in 1913.
Moving Assembly Line
