Chap 24 History test Chap 2 History test

Chap 24 History test Chap 2 History test

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Term Definition
corporation a business that is owned by many investors
entrepreneur a person who assembles and organizes the resources necessary to produce goods and services. Entrepreneurs are willing and able to take the risks involved in starting and managing a business.
initial at the beginning
invest to give money to a company or bank, or to buy something, in order to make a profit later
lanor Unions an organization that brings together workers in the same trade, or job, to fight for better wages and working conditions
laissez-Faire a theory that economies work best when there is minimal involvement from government
mass production the use of interchangeable parts and assembly lines to make large quantities of identical goods
monopoly a company that controls all production and sales of a particular product or service
profit money earned by a business after subtracting its operation costs. It provides an incentive for individuals to take the risks that come with starting a business.
rural relating to the country, not the city
trust a group of corporations that unite in order to reduce competition and control prices in a business or an industry
urban relating to cities
urbanization the growth of cities
bessemer process
Thomas Eddison
Rockefellor
Knights of Labor
tariff
homestead strike
triangle factory

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