History Section 2 q (th grade quiz

Question Answer
Corporation A company recognized as a legal unit that has rights and liabilities separate from each of its members
Cartel association of producers of a good or service that prices and controls stocks in order to monopolize the market
Cartel association of producers of a good or service that prices and controls stocks in order to monopolize the market
John D. Rockefeller an Ohio oil tycoon who made agreements with railroads that made it difficult for his competitors ship their products
John D. Rockefeller an Ohio oil tycoon who made agreements with railroads that made it difficult for his competitors ship their products
Horizontal Integration system of consolidating many firms in the same business
Monopoly complete control of a product or service
Horizontal Integration system of consolidating many firms in the same business
Andrew Carnegie An American industrialist and philanthropist who began Carnegie Steel: a corporation that dominated the American steel industry. He created charitable trust foundations and provided money for cultural and educational institutions
Social Darwinism the belief held by some in the late 19th century that certain nations and races were superior to others and therefore destined to rule over them
Interstate Commerce Commission 1st federal agency monitoring business operations, created in 1887 to oversee interstate railroad procedures
Monopoly complete control of a product or service
Social Darwinism the belief held by some in the late 19th century that certain nations and races were superior to others and therefore destined to rule over them
Entrepreneurs A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
Andrew Carnegie An American industrialist and philanthropist who began Carnegie Steel: a corporation that dominated the American steel industry. He created charitable trust foundations and provided money for cultural and educational institutions
Laissesz-faire abstention by government from interfering in workings of the free market
Social Darwinism the belief held by some in the late 19th century that certain nations and races were superior to others and therefore destined to rule over them
Protective tariffs a tariff levied on imports to protect the domestic economy rather than to raise revenue
Interstate Commerce Commission 1st federal agency monitoring business operations, created in 1887 to oversee interstate railroad procedures
Patent a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention
Sherman Antitrust Act 1890 law banning any trust that restrained interstate trade or commerce
Laissesz-faire abstention by government from interfering in workings of the free market
Entrepreneurs A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
Bessemer process a method for making steel by forcing compressed air through molten iron to bruno out carbon and other impurities
Laissesz-faire abstention by government from interfering in workings of the free market
Suspension bridges a bridge in which the weight of the deck is supported by vertical cables suspended from larger cables that run between towers and are anchored in abutments at each end
Patent a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention
Protective tariffs a tariff levied on imports to protect the domestic economy rather than to raise revenue
Time zones a range of longitudes where a common standard tie is used
Patent a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention
Mass Production the manufacture of goods in large quantities by machinery and by use of techniques such as the assembly line and division of labor
Thomas Edison U.S. inventor; inventions included the phonograph and incandescent electric light and microphone and the kinetoscope
Cash Crop a crop produced for its commercial valve rather than for use by owner
Bessemer process a method for making steel by forcing compressed air through molten iron to bruno out carbon and other impurities
Fee Enterprise an economic system in which private businesses operates in competition and largely free of state control
Suspension bridges a bridge in which the weight of the deck is supported by vertical cables suspended from larger cables that run between towers and are anchored in abutments at each end
Time zones a range of longitudes where a common standard tie is used
Time zones a range of longitudes where a common standard tie is used
Mass Production the manufacture of goods in large quantities by machinery and by use of techniques such as the assembly line and division of labor
Mass Production the manufacture of goods in large quantities by machinery and by use of techniques such as the assembly line and division of labor
Cash Crop a crop produced for its commercial valve rather than for use by owner
Cash Crop a crop produced for its commercial valve rather than for use by owner
Fee Enterprise an economic system in which private businesses operates in competition and largely free of state control
Fee Enterprise an economic system in which private businesses operates in competition and largely free of state control

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