Unit 1 - Gilded Age Vocabulary

1. 1. Laissez-Faire Economics

• Economic system in which the government does not intervene in business practices

• A business practice in which a single manufacturer controls all of the steps used to change raw materials into finished products

• A business practice in which a company takes over all of its competitors

• Theory that claims the best people in society are the ones who rise to the top

2. 2. Vertical Integration

• Economic system in which the government does not intervene in business practices

• A business practice in which a single manufacturer controls all of the steps used to change raw materials into finished products

• A business practice in which a company takes over all of its competitors

• Theory that claims the best people in society are the ones who rise to the top

3. Horizontal Integration

• Economic system in which the government does not intervene in business practices

• A business practice in which a single manufacturer controls all of the steps used to change raw materials into finished products

• Theory that claims the best people in society are the ones who rise to the top

• A business practice in which a company takes over all of its competitors

4. Social Darwinism

• Economic system in which the government does not intervene in business practices

• A business practice in which a single manufacturer controls all of the steps used to change raw materials into finished products

• A business practice in which a company takes over all of its competitors

• Theory that claims the best people in society are the ones who rise to the top

5. 5. Labor Union

• An organization of workers that tries to improve working conditions, wages, and benefits for its members

• An organized work stoppage intended to force an employer to address union demands

• A company tool to fight union demands by refusing to allow employees to enter its facilities to work

• A list privately exchanged among employers, containing the names of persons to be barred from employment

6. Strike

• An organization of workers that tries to improve working conditions, wages, and benefits for its members

• A company tool to fight union demands by refusing to allow employees to enter its facilities to work

• An organized work stoppage intended to force an employer to address union demands

• A list privately exchanged among employers, containing the names of persons to be barred from employment

7. Lockout

• An organization of workers that tries to improve working conditions, wages, and benefits for its members

• An organized work stoppage intended to force an employer to address union demands

• A company tool to fight union demands by refusing to allow employees to enter its facilities to work

• A list privately exchanged among employers, containing the names of persons to be barred from employment

8. Blacklist

• An organization of workers that tries to improve working conditions, wages, and benefits for its members

• An organized work stoppage intended to force an employer to address union demands

• A company tool to fight union demands by refusing to allow employees to enter its facilities to work

• A list privately exchanged among employers, containing the names of persons to be barred from employment

9. Push Factor

• A factor that causes people to leave their homelands and migrate to another region

• Policy of promoting the interests of native inhabitants against those of immigrants, including the support of immigration-restriction measures

• Factors that induce people to move to a new location in the same city

• A party organization that commands enough votes to maintain control of a city, county, or state

10. Pull Factor

• A factor that causes people to leave their homelands and migrate to another region

• Policy of promoting the interests of native inhabitants against those of immigrants, including the support of immigration-restriction measures

• Factors that induce people to move to a new location

• A party organization that commands enough votes to maintain control of a city, county, or state