| Term | Definition |
|---|
| pools | system in which several railroad companies agreed to divide up the business in an area. |
| Bessemer | method developed in the 1850's to produce stronger steel at a lower price. |
| dividend | share of a corporations profit |
| rebates | discount |
| corporation | business that is owned by investors |
| free enterprise | economic system in which businesses are owned by private citizens who decide what to produce, how much to produce and what prices to charge. |
| trust | group of corporations run by a single board of directors |
| stock | share of ownership in a corporation |
| horizontal integration | controls companies within one industry |
| network | system of connected rail lines |
| vertical integration | practice in which a single manufacturer controls all of the steps used to change raw materials into finished products |
| consolidate | combine |
| monopoly | a company or group having control of all or nearly all the buisnesses in that industry |
| sherman anti trust act | law that banned formation of trusts and monopolies in the USA...happened in 1890 |
Combine with other sets
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