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Chapter 4 Section 2

corporation
form of group ownership developed by investors(take advantage of expanding markets)
monopoly
complete control of products or service
cartel
prices and controls stock in order to monopolize the market
John D. Rockefeller
oil tycoon who made deals with railroads to increase his profits
horizontal integration
putting many firms in same business
trust
group of separate companies that are placed under control of single managing board in order to form monopolies
Andrew Carnegie
steel tycoon
vertical integration
combination of companies, allowed companies to reduce costs and charge higher prices to competitors
social darwinism
certain nations and races overuled some others
interstate commerce commission
1st federal body set up to monitor American business operations
sherman antitrust act
outlawed any trust that operated in restraint of trade or commerce among the several states, passed by senate in 1896
government felt businesses were ? and ?
unfair, not equal
how did big business shape the American economy in the late 1800s and early 1900s?
helped finance inventions and made America prosperous
why did business leaders create new forms of ownership like monopolies, cartels, and trusts
eliminate competition, gain complete control of product or service
what does the fact that government regulation of business was not very successful at first tell you about the relationship between government and big business?
how can business leaders like Rockefeller and Carnegie be called both robber barons and captains of industry
swindled the poor and business leaders served the nation positively
benefits of tariff is its a
tax on imported goods
tariff makes foreign goods more
expensive
when foreign goods are more expensive, people buy
more us goods
people buying more us goods help
americans keep their jobs
tariffs raise
money for gov

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