social studies Flashcards
(85 cards)
what is a stock?
a share in the ownership of a company
corporation:
a business structure where the company is legally separate from its owners (share holders)
a situation where one company, person, or entity has complete control over a product, service, or market.
monopoly
assembly line:
an arrangement of workers and machines in a factory, where each worker deals with only one part of product.
trust
a legal arrangement where multiple companies in the same industry combined their resources and power to control a market or industry
industrialization:
the process form shifting from rural economy to a econmy based on manufacturing and industry
Sherman anti - trust act
a us law to prevent monopolies or engaging in practices that restrain trade, like price fixing or bid rigging
why is competition so beneficial for consumers?
it improves quality, lead to lower prices and greater consumer choice.
laissez faire
businesses in competition with one another, should be free to determine their own paths free of government rules or regulation
what problems can be caused by laissez-faire?
unsafe working conditions, large wealth gaps, and lack of consumer protection
social Darwinism
a pseudoscience theory that applied Charles Darwin’s theory of evolution by natural selection to human society
how did industrialists use social Darwinism?
to justify the existing social and economic inequalites
- encourages creativity
- promotes efficiency
- increases job satisfaction
- can lead faster to decisions making
- greater freedom for businesses
positives factors of laissez - faire
income inequalities and wealth gaps
risk of instablitiy and economic downturns
failure to adress social needs
potential for monopolies
negative of laissez - faire
explain urbanization
the process of migrating form rural areas to urban settings
how did industrialists embraced the theory of social Darwinism to make the most money?
robber barons embraced social darwinism to justify their wealth accumulation and business practices.
the first efficient and inexpensive method for mass production steel from molten pig iron
the Bessemer process
who published “ how the other half lives” and why?
jacob riis, and he wanted to show the lives of the poor community of new york and tenement living.
captain of industry
a business leader, particularly during the late 19th and 20th century, who had a positive force for economic growth
What is a robber baron?
A robber baron is a powerful industrialist who amassed great wealth through exploitative business practices and monopolies and trusts.
What are push factors in migration?
Push factors include poverty, lack of jobs, and discrimination.
What are pull factors in migration?
Pull factors include employment opportunities, higher incomes, and better living conditions.
What is nativism?
Nativism is a policy that favors the interests of native-born or established residents over those of immigrants.