History Vocab. 3 Flashcards
Railroad Baron
Powerful and aggressive business men who controlled the nation’s railroads
Consolidation
Taking two corporations, dissolving them both, and combining them into one; practice of a larger corp. taking over a smaller corp.
Standard Gauge
4 feet 8.5 inches standard track size
Rebates
Refund
Pools
Secret Agreement in which they set rates to earn greater profits
Model T
First mass-produced car made by Henry Ford
Assembly Line
One worker does a simple task over and over again
It is faster and cheaper. Average workers, same task over and over
Mass Production
Goods produced in large quantities using machines and the assembly line
Stock
Shares of ownership into a company
Shareholders
People who own stock in the company
Dividend
Money earned from stocks $$$$$$$$
Trust
A combination of a group of corporations usually to reduce competition; managed by the same board of directors
Monopoly
Complete control of an industry
Merger
Combining two or more businesses into one
Sweatshop
Factory setting in bad conditions- hot, dirty, dangerous; often paid by the number of items you produced
Trade Union
Organization of workers with the same skill
Collective bargaining
A group of people come together and discuss what they want to fix; Union represent workers in labor discussions with management
Strikebreakers
A person who goes into work while a strike is going on
“Scabs”
Injunction
Court Order
