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History 8-Ch. 19 Voc

History 8-Ch. 19 Vocab

QuestionAnswer
consolidation the practice of combining separate companies into one.
standard gauge the uniform width of 4 feet, 8.5 inches for railroad tracks, adopted during the 1880s
rebate discount or return of part of a payment
pool a group sharing in some activity, for example, among railroad barons who made secret agreements and set rates among themselves.
assembly line a production system with machines and workeers arranged so that each person performs an assigned task again and again as the item passes before him or her.
mass production the production of large quantities of goods using machinery and often assembly line
corporation a group that is authorized by law to carry on an activity but having the rights and duties of a single person.
stock shares of ownership a company sells in its business which often carry voting power.
shareholder a person who invests in a corporation by buying stock and is a partial owner
dividend a stockholder's share of a company's profits, usually as a cash payment.
horizontal integration the combining of competing firms into one corporation
trust a combination of firms or corporations formed by a legal agreement, especially to reduce competition.
monopoly total control of a type of industry by one person or one company
vertical integration the combining of companies that supply equipment and services needed for a particular industry
philantropy charitable acts or gifts of money to benefit the community
merger the combining of two or more businesses into one.
sweatshop a shop or factory where workers work long hours at low wages under unhealthy conditions.
trade union organization of workers with the same trade or skill
collective bargaining a discussion between an employer and union representatives of workers over wages, hours, and working conditions.
strikebreaker a person hired to replace a striking worker in order to break up a strike.
injunction a court order to stop an action, such as a strike
Created by: nandonval
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