Description

person who invests money in a product or business with the goal of making a profit
tax on imported goods making the price high enough to protect domestic goods from foreign competition
lenient, as in the absence of government control over private business
official rights given by the government to an inventor for the exclusive right to develop, use, and sell an invention for a set period of time
American inventor and businessman, who has been described as America's greatest inventor
cheap and efficient process for making steel, developed around 1850.
A type of bridge in which the deck hangs from wires attached to thick cables. The cables pass over towers and are securely anchored in concrete anchorages.
any of the 24 longitudinal area of the world within which the same time is used
the production of large quantities of a standardized article (often using assembly line techniques)
company recognized as a legal unit that has rights and liabilities separate from each of the members
exclusive control by one company over an entire industry
An organization of sellers designed to coordinate their supply decisions to maximize joint profits
American oil industry business magnate, industrialist, and philanthropist. He is widely considered the wealthiest American of all time,[4][5] and the richest person in modern history
Horizontal: merging of companies that make similar products.
Agreements between companies which allowed them to get shares of profit
ed the expansion of the American steel industry in the late 19th century and is often identified as one of the richest people (and richest Americans) ever.
company taking over its supplies and distributors and transportation systems to gain total control over the quality and cost of its product.
Economic and social philosophy-- supposedly based on the biologist Charles Darwin theory of evolution by natural selection-- holding that a system of unrestrained competition will ensure the survival of the fittest.
first federal agency monitoring business operations, created in 1887 to oversee interstate railroad procedures
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.
a shop or factory where workers work long hours at low wages under unhealthy conditions
community whose residents rely upon one company for jobs, housing, and shopping
Negotiation between employer and trade union
Political and economic theory of that advocates that the means of production, distribution, and exchanged should be owned
Terence V. Powderly, leader. Biggest and most important labor organization in America in the 1880s
American labour leader and politician who led the Knights of Labor (KOL) from 1879 to 1893.
First and Longest serving president of the American Federation of Labor.
in 1995, the american federation of labor
Workers rallied for less hours and then an unknown person threw a bomb at the police in Chicago May 4th, 1886 at Haymarket Square
Took place in Homestead Pennsylvania, pitted one of the most powerful corporations - Carnegie steel company, against the nations strongest trade union, the amalgamated association of iron and steel workers

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Economic Terms

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Unit 4 Review

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ECONOMIC JARGON

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