Big Business

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Term Definition
capitalism economic system in which private business runs most industries, and competition determines how much goods cost and workers are paid
Free Enterprise belief that the economy will prosper if businesses are left free from government regulation and allowed to compete in a free market
Communism political theory that proposes that all people
Social Darwinism Theory adapted were the fittest are rising to position of wealth and power.
Corporation Company that sell stocks in order to raise money.
Trust Grouping several companies under a single board of directors.
Monopoly Economical control of an industry.
Vertical Integration Companies that provided the materials and services when needed.
Horizontal Integration One company control of other company making the same product.
Cornelius Vanderbilt A Pioneer of the railroad industry.
George Pullman Designed and manufactured railroads cars.
Horatio Alger Jr. A writer that published novels about the importance of individualism.
Andrew Carnegie Gave advice to companies.
John D. Rockefeller Founder of the Standard oil company.

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