Rise of Big Business
Consolidating Industry
Standard Oil
New Business Organizations
Investment
100
Owning shares of a company.
What is Stock?
100
Saved money and enabled many companies to become bigger.
What is vertical integration?
100
Combining firms into one large corporation.
What is Horizontal Integration?
100
A legal arrangement that allows one person to manage another person's property.
What is trust?
100
Most Famous and Successful investment banker of the era.
What is J.P. Morgan?
200
An organization owned by many people but treated by law as though it were a person.
What is a corporation?
200
Agreements to keep prices at a certain level.
What are pools?
200
Most famous industrialist who achieved almost complete horizontal integration.
What is John D. Rockefeller?
200
Standard Oil formed the first of it.
What is trust?
200
Bought out Andrew Carnegie.
What is J.P. Morgan?
300
Costs a company must pay and costs that occur while running a company.
What are fixed costs and operating costs?
300
Started a steel business using a new process.
What is Andrew Carnegie?
300
Decided to build oil refineries instead of drilling for oil.
What is John D. Rockefeller?
300
Does not produce anything but itself.
What is a holding company?
300
The first billion-dollar company in American History.
What is the United States Steel Company?
400
The cost of manufacturing is decreased by producing goods quickly in large quantities.
What is economies of scale?
400
Carnegie used this to make his company much more efficient.
What is vertical integration?
400
The nation's largest oil refiner.
What is Standard Oil?
400
Americans feared this because they thought that it could charge whatever it wanted for it's products.
What is monopoly?
400
First advertising company.
What is N.W. Ayer and Son.
500
Laws that allowed companies to become corporations and issue stock without issuing charters.
What is general incorporation laws?
500
Invented a new process for making high-quality steel efficiently and cheaply.
What is Sir Henry Bessemer?
500
Controlled 90% of oil refineries in the United States.
What is Standard Oil?
500
Manages the companies it owns, merging them into one enterprise.
What is a holding company?
500
A group of retail outlets owned by the same company.
What is chain stores?
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