SS Industrial Terms

Front

What is the economic system for the US? People have choice and can own businesses and resources…

Back

Capitalism

Front

Work and labor (workers) using machines is called?

Back

industry

Front

What was the name given to the late 1800’s because of its extravagant wealth and extreme poverty?

Back

Gilded Age

Front

What was the ideal building material for making railroad tracks, bridges, elevator shafts, and many more other products?

Back

Steel

Front

This happens when corporations or businesses raise or lower "prices" to win over customers from other businesses, it is called ….

Back

price competition

Front

For one business to have almost total control of a single product/industry, it is called ….

Back

monopoly

Front

What do you call a group of companies managed by the same board of directors (group of bosses whose goal is to eliminate competition?

Back

trust

Front

Name the term used for business owners who used ruthless business practices to drive out competition.

Back

robber barons

Front

Name the term used for business owners who were very innovated and creative (positive) in the ways they earned millions and fueled America’s industrial mega-growth.

Back

captains of industry

Front

What do you call a business owned by just one person?

Back

Sole proprietorship