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American Corporation Flashcard
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25
History
11th Grade
10/07/2008

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Term
Vertical Integration
Definition
The process in which several steps in the production and/or distribution of a product or service are controlled by a single company or entity, in order to increase that company's or entity's power in the marketplace.
Term
Horizontal Integration
Definition
When a company expands its business into different products that are similar to current lines
Term
Monopoly
Definition
Exclusive control by one group of the means of producing or selling a commodity or service
Term
Social Darwinsim
Definition
why there are really rich people and really poor people.
survival of the fittest
Term
philanthropist
Definition
One who practices and seeks to promote the good of others
Term
laissez-faire
Definition
An economic doctrine that opposes governmental regulation of or interference in commerce beyond the minimum necessary for a free-enterprise system to operate according to its own economic laws.
Term
capitalism
Definition
An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market
Term
pool
Definition
a combination of persons or organizations for the purpose of manipulating prices
Term
Horaito Alger
Definition
wrote "rags to riches" stories. pull yourself up by your bootstraps
Term
Rockefeller
Definition
United States industrialist who made a fortune in the oil business and gave half of it away
Term
Carnegie
Definition
Andrew Carnegie was a 19th century steel tycoon who became one of the 20th century's most famous philanthropists
Term
Vanderbilt
Definition
United States financier who accumulated great wealth from railroad and shipping businesses
Term
JP Morgan
Definition
John Pierpont Morgan (1837-1913), the most powerful American banker of his time, helped build a credit bridge between Europe and America and financially rescued the United States government twice.
Term
JP Morgan
Definition
John Pierpont Morgan (1837-1913), the most powerful American banker of his time, helped build a credit bridge between Europe and America and financially rescued the United States government twice.
Term
yellow dog contract
Definition
yellow-dog contract (or a yellow-dog clause[1]of a contract) is an agreement between an employer and an employee in which the employee agrees, as a condition of employment, not to be a member of a labor union.
Term
blacklisting
Definition
A list of persons or organizations that have incurred disapproval or suspicion or are to be boycotted or otherwise penalized.
Term
scabs
Definition
workers who replace striking workers
Term
injunction
Definition
The act or an instance of enjoining; a command, directive, or order
Term
collective bargaining
Definition
Negotiation between organized workers and their employer or employers to determine wages, hours, rules, and working conditions
Term
arbitration
Definition
The process by which the parties to a dispute submit their differences to the judgment of an impartial person or group appointed by mutual consent or statutory provision
Term
arbitration
Definition
The process by which the parties to a dispute submit their differences to the judgment of an impartial person or group appointed by mutual consent or statutory provision
Term
Gospel of Wealth
Definition
christian duty to accomulate weath and you should not directly help the poor. you have a duty to give back to society
Term
Sherman Anti-trust Act
Definition
Federal legislation passed in 1890 prohibiting "monopolies or attempts to monopolize" and "contracts, combinations, or conspiracies in restraint of trade" in interstate and foreign commerce.
Term
Social Gospel
Definition
The movement focused on applying moral principles to the improvement of industrialized society and particularly to reforms such as the abolition of child labour, a shorter workweek, and factory regulation.
Term
Bessemer Process
Definition
way of making steel
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