business
corporation
business with many owners
labor union
group of workers in an industry who organize to seek better pay and conditions
What were working conditions like in early factories?
long hours, six days per week, unsafe conditions
What problems are caused by monopolies?
price setting, lack of competition, lack of innovation
What were some "push" factors that caused people to immigrate to America?
war, poor economy, unfair treatment
stock
ownership interest in a corporation
strike
stopping work to pressure a company into improving working conditions
How did workers improve their working conditions?
labor unions, strikes
What is horizontal integration?
combining companies in the same industry into one
What were some "pull" factors that caused people to immigrate to America?
rapid industrialization (economic opportunities), peace
bond
debt sold by a company to raise money
ethnic group
people who share a common culture or heritage
Who worked in factories?
everyone (including children)
What is vertical integration?
Combining the links in the supply chain into one company
What countries contributed most to immigration into America?
Southern/Eastern Europe, and China
monopoly
a single business interest that controls an industry
assimilate
become part of the larger culture
What are some labor protections labor unions asked for?
reduced hours, safer conditions
What are the factors of production?
land, labor, capital
What problems did immigrants have in America?
discrimination in housing and employment
patent
license which protects an invention from being copied without permission
collective bargaining
using a labor union to seek better working conditions
What is the difference between a monopoly and an oligopoly?
A monopoly is a single company, an oligopoly is a group of companies who cooperate.
How can companies raise capital?
selling stocks or bonds
What are some pros and cons of assimilation?
+ greater opportunities
- loss of culture