Post 1865
Business
Labor
More Boring Facts
Leftovers
100
Person who invests money in a product or enterprise in order to make a profit
Entrepreneur
100
Exclusive control by one company over an entire industry
Monopoly
100
Work stoppage used by organized labor to force ownership to negotiate
Strike
100
Oil tycoon who once controlled 90% of American oil production
J.D. Rockefeller
100
An inventor (electric light bulb among others
Thomas Edison
200
Exclusive right to develop, use, and sell an invention for a set period of time
Patent
200
A steel tycoon who used vertical integration to increase his power
Andrew Carnegie
200
Small factory where employees have to work long hours under poor conditions
Sweat shop
200
The federal government gave _______ to RR companies to encourage construction
Land
200
One of the 24 longitudinal areas of the world within which the same time is used
Time Zones
300
A policy which allowed businesses to operate under minimal government regulation
Laissez-Faire
300
A form of group ownership in which a number of people share the ownership of a business
Corporation
300
Labor protest in Chicago in 1886 that ended in deadly violence and helped kill the Knights of Labor
Haymarket Square
300
Within four years he controlled rail traffic between New York and Chicago
Cornelius Vanderbilt
300
Systems that depended on machinery to turn out large numbers of products quickly and inexpensively
Mass Production
400
Tax on imported goods making the price high enough to protect American business
Protective Tariff
400
A system of consolidating many firms in the same business to lower production costs
Horizontal Integration
400
Negotiating as a group for higher wages or better working conditions
Collective Bargaining
400
Leader of the American Railway Union who eventually became a socialist
Eugene V. Debs
400
The practice of gaining control of many different businesses that make up all phases of a product’s development
Vertical Integration
500
Method developed in the mid-1800s for making steel
Bessemer Process
500
Group of separate companies that are placed under the control of a single managing board in order to form a monopoly
Trust
500
An economic and political philosophy that favors public, instead of private, control of property and income
Socialism
500
The leader of the Knights of Labor (beginning in 1891) who encouraged boycotts and negotiations with employers
Terrence Powderly
500
Founder of the American Federation of Laborers
Samuel Gompers
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