Industrialization in the Gilded Age

Front

Corporation

Back

A business in which ownership is shared by a group of people through the purchase of stock.

Front

Monopoly

Back

Complete control of a product or service by a single company.

Front

Cartel

Back

A group of businesses that agree to limit production to keep prices high.

Front

Horizontal Integration

Back

A strategy where a company consolidates many firms in the same business.

Front

Vertical Integration

Back

A strategy where a company controls all phases of production, from raw materials to finished goods.

Front

Trust

Back

A group of companies managed by a single board of trustees to reduce competition.

Front

Andrew Carnegie

Back

An industrialist and philanthropist who led the expansion of the steel industry and advocated for the 'Gospel of Wealth.'

Front

John D. Rockefeller

Back

An industrialist and founder of Standard Oil, known for his use of horizontal integration to create a monopoly.

Front

Social Darwinism

Back

The belief that certain nations, races, or businesses were superior to others and therefore destined to rule.

Front

Interstate Commerce Commission (ICC)

Back

A federal agency created to regulate railroad operations and prevent unfair practices.