Big Business Vocabulary Terms
Name_____________________Date_______Block_____
Big Business Vocabulary Terms
|Terms |Definitions-in your own words |
|Industrial Revolution |The era in which there was a shift from agriculture to industry; we started using machines (mechanization) for |
| |everything instead of doing the work by hand. |
|Agrarian society |a society based on farming (agriculture) for its economic basis (the way it makes money) |
|industrial society |a society based on industry (big business) for its economic basis |
|specialized industries |industries that deal with specific products such as meat-packing or steel |
|“Captains of Industry” | |
| |leaders of big business/ industries such as John D. Rockefeller, Andrew Carnegie, Cornelius Vanderbilt |
|John D. Rockefeller |Created The Standard Oil Company of Ohio |
| |which controlled the entire oil business. |
| |Standard Oil was a monopoly. |
|Andrew Carnegie |Created the profitable steel industry in the country known as Carnegie steel in Pittsburgh, PA. |
|Cornelius Vanderbilt |Ran a Railroad/shipping empire and was the largest employer in America. Captain of the RR industry. |
|urbanization | |
| |having to do with cities or towns |
|10.mechanization | |
| |replace people or animals by machinery |
|11. organized labor |groups of workers from the same line of work, such as printers, joined together to promote their business |
|12. merit system | |
| |a system that rewards jobs to people according to worth or value |
|13. corporation |A business in which investors own shares |
|14. monopoly |A product or business with many buyers but only one producer (or seller). Total control of an industry by a single|
| |producer. |
|15. dividend | A stockholder’s share of a company’s profits, usually as a cash payment |
|16.stock (stockholder | |
|/shareholder) |shares of ownership a corporation sells in its business |
|17. philanthropy |charitable acts or gifts of money to benefit the community |
|18. assembly line |a production system with machines and workers arranged so that each person performs an assigned task again and |
| |again as the item passes before him or her |
|19. sweatshop | |
| |a shop or factory where workers work long hours at low wages under unhealthy conditions |
|20. strikebreaker |person hired to replace a striking worker in order to break up a strike |
|21. mass production | |
| |is the production of large amounts of standardized products, including and especially on assembly lines |
|22. trade union |A group of workers who have banded together to improve working conditions or get higher wages |
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.