gilded age and rise of big buisness Flashcards
politics
intense comp between the two parties with minor parties coming and going. especially on issues of concern of prohibitionists labor unions and farmers
horizontal integration
the process of a company increasing production of goods or services at the same part of a supply chain
vertical integration
an arrangement where the supply chain of a company is owned by that company.
cartel
as assoc of manufacts or suppliers w the purp of maintaning prices at a high level and restricting comp
oligopoly
a market w a small number of sellers
monopoly
the exclusive possesuon or control of the supplt trade
economy of scale
the cost advantages that enterprises obtain due to size output or scale of operation with cpu decreasing
working conditions
slightly improved but still bad
credit mobilier scandal
dmaged the careers if sveral guild age politicians. major stockholdeds formed a company and gave it contracts to build athe railroad. they sold/gave shares in this construction to to influential congressmen
graft
form of political corruption. urscrupulus use of a politicns authorty for personal gain
presidents
chester A arthur and rutherford B Hayes
andrew carnegie
scottish american industrialist who led the enormous expansion of the american steell industry
rockerfeller
co founder of the standard oil company which dominated the oil industry and was the first great us buisness trust
sherman anti trust act
landmark federal statute in the history of the us antitrust law passed by congress in 1890
haymarket strike
labor protest which turned into a riot after a bomb was thrown at the police. 8 people dies that say.
