Gilded Age/Progressive Era

Front

Which term refers to an economic system where private individuals own and control property and businesses?

Back

Capitalism

Front

What is the name of the process that involves the mass production of goods using a series of workers and machines in a factory?

Back

Assembly Line

Front

Which concept applies the idea of "survival of the fittest" to human societies and businesses?

Back

Social Darwinism

Front

Which act was passed to prevent monopolies and promote fair competition in the United States?

Back

Sherman Antitrust Act

Front

What is the term for the practice of controlling all aspects of production from raw materials to finished goods?

Back

Vertical Integration

Front

What is the term for a market structure where a single company or group owns all or nearly all of the market for a given type of product or service?

Back

Monopoly

Front

What term refers to the resources needed to produce goods and services, including land, labor, and capital?

Back

Factors of Production

Front

Which economic policy advocates minimal government intervention in the economy?

Back

Laissez-Faire

Front

What is the term for a group of companies that work together to control prices and limit competition?

Back

Trusts

Front

What term refers to the social class made up of people who work for wages, especially in manual or industrial work?

Back

Working Class