test Flashcards
Corporation
publicly owned business, owned stock and stock holders who share prophits/ ownership
Stock holders get part of prophit if business does well if not loose cause stock holders give to business
Monopoly
own enough to dominate and set prices which allows no business so ilegal ex. Rockefeller
trust
corporation of corporations where combine like companies to one where control everything and dominate.
ex. rockefeller biggest oil trust with many companies being 80 percent of oil business, dominated and made monopoly and controlled set price and why Ida Tarbell took him down
laissez-faire
the government leaves government alone regarding all economic activites and let natural laws of supply and demand work
collective bargaining
process through which working people through their unions negotiate contacts with their employers to determine their terms of employment (pay, benefit, hrs, etc.)
workers negotiate to get want to work for company
STRENGTH IN NUMBERS
boycott
to stop buying and using the goods and services of certain company/country for protest
strike
work stoppage caused by mass refusal of empolyees to work (usually grievances)
tenements
run down slums; immigrants and people with jobs need places to go, multiple families living in one room apartment
nativism
reaction against immigrants
people of same race can dislike each other
muckraker
any of a group of american writers identified with pre-ww1 reform and expose writing (ida tarbell ex.)
wrote to expose like rockefeller or unsafe living or working conditions
great migration
movement of some 6 million African Americans from rural areas from the Southern states of the United States to Urban areas in Northern states
Sherman Antitrust Act (1890)
Comitted American government to opposing monopolies
law prohibits contacts, combinations, or conspiriacies
“in the restraint of trade or commerce”
want to stand up against Trusts so anti trusts and need refree to stop
Pure food and Drug act (1906)
first of series of significant consumer protection laws enacted by congress
prohibites the sale of misbranded or adulterated food and drugs in interstate commerce and laid a foundation for the nations new consumer protection agency (FDA, food and drug administration)
Meat Inspection Act (1906)
prohibited sale of adulterated or misbranded livestock and derived products as food and ensured sanitary slaughtering and processing of livestock
US Forest service Act (1891)
requires forest service to conduct its planning to ensure a diversity of plant and animal species
