Chapter 9 Vocabulary

Question 1

village built and run by a company where workers are required to live

Answer 1

company town

Question 2

Money that can be redeemed only at a company store

Answer 2

scrip

Question 3

Sequence of economic activity usually consisting of recession, recovery, growth, and decline

Answer 3

Business cycle

Question 4

Record kept by companies of employees or former employees who are disapproved of or are to be punished or boycotted

Answer 4

Blacklist

Question 5

Closed factory or place of employment caused by a strike; withholding of employment by an employer

Answer 5

Lockout

Question 6

Nonunion replacement workers during a strike or union members who refuse to strike and continue working

Answer 6

Scab

Question 7

Negotiation between organized workers and management to reach an agreement

Answer 7

Collective bargaining

Question 8

Hearing and resolution of a disagreement between two parties through and impartial third party

Answer 8

Arbitration

Question 9

Union that represents every worker in a single industry regardless of his or her job

Answer 9

Industrial union

Question 10

Court order requiring an individual or company to do something or to prohibit a given action; used frequently to stop strikes

Answer 10

Injunction

Question 11

Organized massacres of unarmed people, especially Jews

Answer 11

Pogrom

Question 12

a belief in no direct government authority over society

Answer 12

Anarchism

Question 13

Buying and selling of goods in a business for a profit

Answer 13

Merchandising

Question 14

Income adjusted to compensate for reduced earning power due to inflation

Answer 14

real wages