U2C1-Vocab Flashcards

Front

Used in engines for fuel/lubrication; also in plastics.

Back

oil/petroleum

Front

Commercial iron

Back

Steel

Front

Financial institution for deposits and loans.

Back

Banking

Front

Processing raw materials and manufacturing goods in factories.

Back

Industries

Front

John D. Rockefeller controlled 90% of US petroleum production (1870-1911)

Back

Standard Oil Company

Front

Andrew Carnegie, Pittsburgh, PA, supplied iron for railroads, bridges, and skyscrapers.

Back

American steel industry

Front

Business expansion by acquiring a company in the supply chain.

Back

Vertical integration

Front

Business expansion by acquiring a similar company in the same supply chain.

Back

Horizontal integration

Front

Exclusive control of a commodity or service

Back

Monopolies

Front

Fiduciary arrangement where a third party holds assets for a beneficiary.

Back

Trusts