Vocabulary
an alliance of trade and craft unions formed in 1886.
American Federation of Labor
the merging of companies that make similar products.
Horizontal Integration
Lane's dream has always been to own his own high speed internet company, "The Fast Lane" However, since the company has become very popular he has been under extreme stress. He has considered turning his stock over to a board of trustees, so that they can run his company. What type of business would this make "The Fast Lane?"
Trust Agreement
First to use a steam engine to drill for oil.
Edwin L. Drake
Created a cheap and efficient way to create steel.
Henry Bessemer
a law enacted in 1890, that was intended to prevent the creation of monopolies by making it illegal to establish trusts that interfered with free trade.
Sherman Antitrusts Act
a labor organization for unskilled workers, formed by a group of radical unionists and socialists.
Industrial Workers of the World
Tade works at Experience Horizon. Experience Horizon is a company that buys stock, they've bought stock in Coke-a-cola (drink), Apple (electronics), Graco (baby supplies), and Pioneer Woman (Home decor). What kind of company is Experience Horizon?
Holding Company
Invented the telephone.
Alexander Graham Bell
Organized the UMW (United Mine Workers).
Mary Harris Jones
a cheap and efficient process for making steel, developed around 1850.
Bessemer Process
a company’s taking over its suppliers and distributors and transportation systems to gain control over the quality and cost of its products.
Vertical Integration
Casen created a successful streaming company and has since bought out all of his competition. He is the only streaming company avaliable in the U.S. He controls prices, wages, and the products. What kind of business system does Casen have?
monopoly.
Socialists who formed the American Railway Union.
Eugene V. Debs
Created the incandescent lightbulb.
Thomas Edison
a law enacted in 1887, that established the federal government’s right to supervise railroad activities and created a five-member Interstate Commerce Commission to do so.
Interstate Commerce Act
President of the American Federation of Labor.
Samual Gompers
a railroad line linking the Atlantic and Pacific coasts of the United States.
Transcontinental Railroad
invented the first typewriter.
Christopher Sholes