Front

A group of companies in the same industry giving day-to-day operation of their companies over to a single board of directors.

Back

trust

Front

What is a Laissez-Faire economy?

Back

An economy that works best when there is very little involvement by the U.S. government.

Front

Robber Barons used this theory to justify their actions in business: Social Darwinism, conspicuous consumption, Gospel of Wealth, nativism

Back

Social Darwinism

Front

What was an American capitalist of the Gilded Age whose contributions benefited society? Options: Captain of Industry, Social Darwinist, Socialist, Fundamentalist

Back

Captain of Industry

Front

What was an entity that runs several companies as one large corporation? (Standard Oil)

Back

Trust

Front

Name for entrepreneurs who use ruthless tactics to destroy competition or to keep wages low

Back

Robber Baron

Front

Combining into a single firm of several firms involved in the same level of production and sharing resources as that level

Back

Horizontal integration

Front

When a company is working separately in related phases of the production and sale of a product

Back

Vertical integration

Front

Method of production invented by Henry Ford in which workers add parts to a product as it moves along a belt.

Back

assembly line

Front

When a company controls all or nearly all the business of an industry

Back

monopoly