12-3 Flashcard Big Business

Front

Laissez-faire is a French term that means _____?

Back

"Leave it alone"

Front

One reason big business was able to increase after the Civil War was because states began allowing companies to become corporations without having to get a special _____ from that state's legislature.

Back

charter

Front

All businesses have "fixed" and "operating" costs. Paying the salaries of cooks, custodians, teachers and para-educators during the school months would be considered a(n) ______ cost.

Back

operating

Front

The continual monthly payments to pay off for the new buildings the Mitchell School District has built in the last ten years would be an example of a(n) ______ cost.

Back

fixed

Front

A corporation is defined as _______?

Back

an organization that is authorized by law to carry on an activity but is treated as though it is one person

Front

Vertical integration is a concept in which a company ______?

Back

owns all the parts of the industrial process it needs to make its product

Front

Horizontal integration occurs when a company _______?

Back

owns all of the same type of businesses like itself

Front

John D. Rockefeller is associated with the _____ industry.

Back

oil

Front

Andrew Carnegie is associated with the ______ industry.

Back

steel

Front

We learned that Andrew Carnegie was associated with _______ integration.

Back

vertical