vocab 1
A team of producers of a good or service that price controls stocks in order to monopolize the market
What is cartel?
company recognized as a legal unit that has rights and liabilities seperate from each of its members.
what is corporation?
To take advantage of expanding markets, investors developed a form of group of people share the ownership known as _____?
What is a corporation?
(switch to slides 2)
There is a cartoon with the description Puck politics; there are 4 men bouncing a businessman on a sheet. The four men are described as Populist, Republican, Silverite, and what other person?
what is a democrat?
What did people who were anti-corporation call the leaders?
What is Robber Barons
executive control by one company over an entire industry
what is a monopoly?
group of seperate companies that are placed under the control of a single managing board in order to form a monopoly
what is a trust?
John d. rockefeller, an Ohio oil tycoon, made agreements with ________ that made it difficult for his competitors to ship their products
what are railroads?
what is the name of this political cartoon?
(switch to slides 5)
what is the robber Baron?
What was the name of the book Carnegie wrote
What is the gospel of wealth?
An American industrialist and philanthropist who created Carnegie steel.
who is Andrew Carnegie?
An American industrialist and philanthropist who made the standard oil company an dominated oil industry
who is John d. Rockefeller?
business leaders continued to develop more effective ways to decrease costs and increase profits via _______ and ________ _______.
what is vertical and horizontal integration?
what was made to monitor railroad shipping rates?
what is the ICC (Interstate Commerce Commission)?
(switch to slides 4)
Who argued that animals evolved via natural selection
the idea that some races are superior to others.
what is social darwinism?
an 1890 law that banned any trust that restrained interstate trade or commerce
what is Sherman antitrust act?
In a trust, companies assigned their stock to a board of _______, who combined them into a new organization that the ________ ran. By the early 1880s, Rockefeller and his standard oil _____ controlled most of the oil refined in the United States.
what is trustees and trust?
What was one of the advantages of the Sherman Antitrust Act in 1890?
What is it that has enabled Congress to regulate trade between states and end monopolistic practices, tried to eliminate hidden monopolies (trusts) that affected trade, enabled competitors to sue trustees of rival companies for loss of revenue, or to levy fines against those forming trusts.
2 things that business mergers controlled?
What are steel, railroads, meat, farm equipment, sugar, and lumber?
daily double:
horizontal integration , vertical integration
which one is product based?
which one is business based?
horizontal integration is business based.
vertical integration is product based.
horizontal integration is the system of consolidating many firms in the same business
vertical integration is the system of consolidating firms involved in all steps of a product's manufacture
(switch to slide 7)
first federal agency monitoring business operations, created in 1887 to oversee interstate railroad procedures.
what is the Interstate Commerce Commission?
As state laws changed, trusts were replaced by other types of ________ .
what are business mergers?
What are one of the disadvantages of the Sherman Antitrust Act of the 1890s?
What is difficult to enforce? Lacked a clear definition of the practices that resulted in a restraint of trade? And what is more often used successfully against labor unions than monopolies?
What type of government tactic was the U.S. using when it came to Corporations?
What is Laissez-faire?