Business Test Flashcards
Vertical Integration
when a company owns different parts of its supply chain
Triangle Shirtwaist Fire
A big fire in 1911 at a clothing factory in New York City where many workers died. This event led to better safety rules for workers.
16thAmend (Income tax)
graduated income tax
Monopoly
when a company has practically no competition
Philanthropy
Giving money or help to people in need.
Network
A group or system of interconnected people or things
Stock
A share in the ownership of a company.
Corporation
A business that’s owned by a lot of people
Gospel of Wealth
The idea that rich people should use their money to help society.
Knights of Labor
First Union. President= Terence Powderly. Wanted better work conditions and wanted eight hour work days
Consolidate
merging smaller companies into a bigger one
American Federation of Labor
A group of union workers in the U.S. that joined together to improve working conditions and wages
Samuel Gompers
Homestead Strike
Carnegie steel mill
Union
a group of workers who organize for better working conditions
Sweatshop
A workplace where workers are in bad working conditions