gilded age and rise of big buisness Flashcards Preview

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Flashcards in gilded age and rise of big buisness Deck (16):
1

politics

intense comp between the two parties with minor parties coming and going. especially on issues of concern of prohibitionists labor unions and farmers

2

horizontal integration

the process of a company increasing production of goods or services at the same part of a supply chain

3

vertical integration

an arrangement where the supply chain of a company is owned by that company.

4

cartel

as assoc of manufacts or suppliers w the purp of maintaning prices at a high level and restricting comp

5

oligopoly

a market w a small number of sellers

6

monopoly

the exclusive possesuon or control of the supplt trade

7

economy of scale

the cost advantages that enterprises obtain due to size output or scale of operation with cpu decreasing

8

working conditions

slightly improved but still bad

9

credit mobilier scandal

dmaged the careers if sveral guild age politicians. major stockholdeds formed a company and gave it contracts to build athe railroad. they sold/gave shares in this construction to to influential congressmen

10

graft

form of political corruption. urscrupulus use of a politicns authorty for personal gain

11

presidents

chester A arthur and rutherford B Hayes

12

andrew carnegie

scottish american industrialist who led the enormous expansion of the american steell industry

13

rockerfeller

co founder of the standard oil company which dominated the oil industry and was the first great us buisness trust

14

sherman anti trust act

landmark federal statute in the history of the us antitrust law passed by congress in 1890

15

haymarket strike

labor protest which turned into a riot after a bomb was thrown at the police. 8 people dies that say.

16

corruption

politicians took bribes and rewarded their supporters w posh gov jobs