Industrialization

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Lernen beginnen

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Frage		Antworten
entrepreneur Lernen beginnen		person who invests money in a business to make a profit
protective tariff Lernen beginnen		tax on imports designed to make imported goods cost more than those made locally
laissez-faire Lernen beginnen		policy that allows businesses to operate under minimal government regulation
patent Lernen beginnen		grant by the federal government giving an inventor the exclusive right to develop, use, and sell an invention for a set period of time
suspension bridge Lernen beginnen		bridge in which the roadway is suspended by steel cables
time zone Lernen beginnen		one of the 24 longitudinal areas of the world within which the same time is used
mass production Lernen beginnen		system in which factories turn out large numbers of products quickly and expensively
corporation Lernen beginnen		a business in which a number of people share ownership
monopoly Lernen beginnen		complete control of a product or service
cartel Lernen beginnen		arrangement in which businesses making the same product agree to limit their production, keeping prices high
horizontal integration Lernen beginnen		system of consolidating many firms in the same business into a single company
trust Lernen beginnen		an arrangement where companies assign their stock to a board of trustees, who combine them into a new organization; trustees run the organization and pay themselves dividends on profits
vertical integration Lernen beginnen		system of a corporation gaining control of the many different businesses that make up all phases of a product’s development
sweatshop Lernen beginnen		factory that employs people to work for long hours on machines making mass-produced items
company town Lernen beginnen		community owned by a business that rented out houses to employees
collective bargaining Lernen beginnen		negotiating as a group for higher wage or better working conditions
socialism Lernen beginnen		an economic and political philosophy that favors public, instead of private, control of property and income

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