H Chapter 19 Industrial Revolution -Test Prep
Terms in this set (36)
When multiple companies become one company. Same as Horizontal Integration and Merger
4 feet, 8.5 inches, the distance between rails agreed upon by all railroad companies
A partial refund of the price of a product / discount
An agreement to divide the business in a given area and share the profits.
Production method that breaks down a complex job into a series of smaller tasks
Process of making large quantities of a product quickly and cheaply (Usually by using Machines, Identical Parts and Assembly Lines)
A legal entity owned by individual stockholders
A share of ownership in a corporation.
A person who invests in a corporation by buying stock and is a partial owner
The portion of corporate profits paid out to stockholders
Type of monopoly where a company buys out all of its competition. Same as Consolidation and Merger
A group of corporations run by a single board of directors (Type of Monopoly)
When one company controls an entire industry
ownership of businesses involved in each step of a manufacturing process
Providing money to support humanitarian or social goals Charity
Combination of two or more companies into a single firm. Same as Horizontal Integration and Consolidate
A shop or factory where workers work long hours at low wages under unhealthy conditions
Association of trade workers formed to gain higher wages and better working conditions
Process by which a union representing a group of workers negotiates with management for a contract
Person hired to replace a striking worker in order to break up a strike
A court order directing someone to do something or to refrain from doing something
John D. Rockefeller
Established the Standard Oil Company, Monopoly on oil. Horizontal integration
Monopoly on Steel, Invented vertical integration
invented the electric light bulb, batteries, phonograph and movies.
Samuel F.B. Morse
invented the telegraph
Alexander Gram Bell
Invented the telephone
Orville and Wilbur Wright
Invented the first airplane
George Eastman Kodak
Knights of Labor
one of the first unions, did not believe in strikes
American Federation of Labor
a union of unions, believed in strikes
labor-related protest in Chicago which ended in deadly violence
a fire in New York's Triangle Shirtwaist Company caused modern fire safety laws
How does the railroad change industry?
Rail Roads made business more competitive
If you got hurt in a factory how did the owner treat you?
They fired you
How do corporations work?
Company's owned by stockholders who get a percentage of profits and votes in the company decisions
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