Vocabulary Flashcards
The practice of combining different companies into a new one.
Consolidation
A discount or return of part of a payment.
Rebate
A group sharing in some activity, for example, among railroad barons who made secret agreements and set rates among themselves.
Pool
Factory method in which work moves past stationary workers who perform a single task.
Assembly line
Factory production of goods in large quantities.
Mass production
Land, labor, and capital used to make goods and services.
Factors of production
A person who starts a business.
Entrepreneur
Legally defined organization of people and resources with the purpose of doing business.
Corporation
Shares of ownership a company sells in its business.
Stock
A person who invests in a company by buying stock.
Shareholder
A legal document that gives someone the sole right to make, sell, and use an invention without others copying it.
Patent
A stockholder’s share of a company’s profits, usually as a cash payment.
Dividend
A combination of firms or corporations formed by a legal agreement, especially to reduce competition.
Trust
Total control of a type of industry by one person or one country.
Monopoly
The combining of two or more businesses into one.
Merger
