Chapter 18 Review

Front

A document giving someone the sole right to make and sell an invention.

Back

patent

Front

A manufacturing method in which a product is put together as it moves along a belt.

Back

assembly line

Front

Someone who sets up new business to make a profit.

Back

entrepreneur

Front

Company that controls most or all businesses in a particular industry.

Back

monopoly

Front

System in which privately owned businesses can compete freely.

Back

free enterprise

Front

Unions negotiate with management for workers as a group.

Back

collective bargaining

Front

Who set up the “Invention Factory” and produced items like the light bulb and phonograph?

Back

Thomas Edison

Front

His assembly line approach to producing cars would change the way goods were produced in the U.S.

Back

Henry Ford

Front

In what way did banks help businesses expand in the post-Civil War era?

Back

They gave loans out to business owners.

Front

What was the advantage of monopolies/trusts?

Back

They created jobs and kept prices low.