(H) History Ch.6 vocab
Terms in this set (25)
licences that give an inventor the exclusive right to make, use or sell an invention
the amount of goods and services created in a given period of time
a railway extending from coast to coast
a process of making steel more efficiently, patented in 1856
the production in great amounts
a 19th-century theory, inspired by Darwinism, by which the social order is accounted as the product of natural selection of those persons best suited to existing living conditions and in accord with which a position of laissez-faire is advocated.
market structure which is dominated by only a few profitable firms
complete control of a product or a service.
a loose association of a business that make the same product
gaining control of many different business that make up all phases of a product's development
Economy of sales
as production increases the cost of each item decreases
create a huge product then selling it for cheap then buying up then other competitors were poor so the person lowering their stuff would start buying the competitors stuff and make them go out of business
Sherman Antitrust act
outlawed any combination of of companies that restrained interstate trade or commerce
those who worked faster and more efficiently got more money
where workers worked for long hours and little pay.
Division of labor
broke the products into separate parts it made it efficient but took the joy out of the work
a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
a union for laborers devoted to a specific craft
process in which workers negotiate as a group with employers
Union that organizes workers from all crafts in a given industry
negative word for a worker called in by an employer to replace striking labors
a radical who opposes all government
1886 labor related violence in Chicago
1892 strike in PA against Carnegie steel
1894 railway workers' strike that spread nationwide