Big Business & Industry Vocabulary

Front

What is a labor union?

Back

An organized group demanding better work conditions.

Front

What is a monopoly?

Back

Total control of an industry.

Front

Who used the assembly line to produce cars cheaply?

Back

Henry Ford.

Front

What is an assembly line?

Back

A production method with repeated tasks.

Front

What is a trust?

Back

A combination of firms or corporations formed by a legal agreement to reduce competition.

Front

What is a strike?

Back

A work stoppage by employees to demand better working conditions or pay.

Front

What is a sweatshop?

Back

A workplace with poor conditions, low wages, and long hours.

Front

What does 'free enterprise' mean?

Back

An economic system where private businesses operate competitively for profit with minimal government regulation.

Front

What is industrialization?

Back

The process of developing industries in a country or region.

Front

What is a corporation?

Back

A large company or group of companies authorized to act as a single entity.