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US History Ch 5 vocab
US History Ch 5 vocab
53
History
10th Grade
09/19/2013

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Term
Gross National Product
Definition
he total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.
Term
Edwin Drake
Definition
American Oil driller known as Colonel Drake. First to drill oil in America.
Term
Laissez Faire
Definition
a policy or attitude of letting things take their own course, without interfering.
Term
Entrepreneur
Definition
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Term
Alexander Graham Bell
Definition
The creator of the first practical telephone
Term
Thomas Edison
Definition
A business man who created the
Term
Gross National Product
Definition
he total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.
Term
Edwin Drake
Definition
American Oil driller known as Colonel Drake. First to drill oil in America.
Term
Laissez Faire
Definition
a policy or attitude of letting things take their own course, without interfering.
Term
Entrepreneur
Definition
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Term
Alexander Graham Bell
Definition
The creator of the first practical telephone
Term
Thomas Edison
Definition
A business man who created the
Term
Gross National Product
Definition
he total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.
Term
Edwin Drake
Definition
American Oil driller known as Colonel Drake. First to drill oil in America.
Term
Laissez Faire
Definition
a policy or attitude of letting things take their own course, without interfering.
Term
Entrepreneur
Definition
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Term
Alexander Graham Bell
Definition
The creator of the first practical telephone
Term
Thomas Edison
Definition
A business man who created the
Term
Gross National Product
Definition
he total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.
Term
Morrill Tariff
Definition
An American protective tariff law adopted on March 2, 1861 during the Buchanan Administration and signed into law by President James Buchanan, a Democrat
Term
Time Zone
Definition
An area or stretch of land having a particular characteristic, purpose, or use, or subject to particular restrictions.
Term
Land grant
Definition
Higher education in the United States designated by a state to receive the benefits of the Morrill Acts of 1862 and 1890.
Term
Integrate
Definition
Combine (one thing) with another so that they become a whole
Term
Pacific Railway Act
Definition
When Congress promoted construction of the transcontinental railroad.
Term
Grenville Dodge
Definition
A Union Army officer who help construction the transcontinental railroad
Term
Leland Stanford
Definition
American tycoon, industrialist, politician.The founder of Stanford University
Term
Cornelius Vanderbilt
Definition
American industrialist and philanthropist that made money in shipping and railroads. Vanderbilt families are one of the richest in America. In his honor Vanderbilt name the school after him.
Term
Jay Gould
Definition
The lead developer and speculator for the American railroads
Term
Credit Mobilier
Definition
Officials of the Union Pacific Railroad created a fake construction company, called the Credit Mobilier, in order to cheat the government out of money allotted to the construction of the Union Pacific Railroads
Term
James J. Hill
Definition
Chief executive officer of family head lines by Great Northern Railway .
Term
Corporation
Definition
A company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
Term
Stock
Definition
the goods or merchandise kept on the premises of a business or warehouse and available for sale or distribution
Term
Economies of scale
Definition
a proportionate saving in costs gained by an increased level of production.
Term
Pool
Definition
an arrangement, illegal in many countries, between competing parties to fix prices or rates and share business in order to eliminate competition.
Term
vertical integration
Definition
the combination in one company of two or more stages of production normally operated by separate companies.
Term
horizontal integration
Definition
absorption into a single firm of several firms involved in the same level of production and sharing resources at that level
Term
monopoly
Definition
the exclusive possession or control of the supply or trade in a commodity or service.
Term
Trust
Definition
confidence placed in a person by making that person the nominal owner of property to be held or used for the benefit of one or more others.
Term
Holding Company
Definition
a company created to buy and possess the shares of other companies, which it then controls.
Term
Andrew Carengie
Definition
Scottish-American industrialist that led a huge expansion of the American steel industry during the 19th century.
Term
John D. Rockefeller
Definition
Founder of Stanford Oil Company and the first great U.S. business trust.
Term
deflation
Definition
reduction of the general level of prices in an economy.
Term
trade union
Definition
an organized association of workers, often in a trade or profession, formed to protect and further their rights and interests.
Term
industrial union
Definition
a union whose members all work in various capacities in a single industry.
Term
black list
Definition
a list of people or products viewed with suspicion or disapproval.
Term
lockout
Definition
the exclusion of employees by their employer from their place of work until certain terms are agreed to.
Term
arbitration
Definition
the use of an arbitrator to settle a dispute.
Term
injunction
Definition
an authoritative warning or order.
Term
closed shop
Definition
a place of work where membership in a union is a condition for being hired and for continued employment.
Term
Marxism
Definition
a method of socio-economic inquiry based upon a materialist interpretation of historical development, a dialectical view of social change, and an analysis of class-relations and conflict within society.
Term
Knights of Labor
Definition
largest and one of the most important American labor organizations of the 1880s.
Term
American Federation of Labor
Definition
a federation of North American labor unions that merged with the Congress of Industrial Organizations in 1955
Term
Samuel Gompers
Definition
Became a labor union leader and a key figure in American labor history.
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