Industrialization Vocabulary

Front

What does a patent provide to an inventor?

Back

A license for a new invention and rights to any money made from the invention

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What does owning stock in a company signify?

Back

Shares of the company and owning part of the company

Front

What is investing typically associated with?

Back

Buying something now with the expectation that it will be more valuable in the future

Front

What does the term "Monopoly" refer to in a business context?

Back

Total control of an industry, often leading to lower quality products and higher prices

Front

What is meant by "Vertical Integration" in an industry?

Back

Owning the steps from raw materials to finished product in an industry.

Front

What does Horizontal Integration refer to in the context of business?

Back

Owning the same kinds/types of businesses in an industry

Front

What is a Recession?

Back

A slowdown in a nation's economy

Front

What characterizes a Depression in economic terms?

Back

A long-term economic state characterized by unemployment and low prices and low levels of trade and investment.

Front

What does the term Panic describe in economics?

Back

A feeling of sudden, intense fear

Front

What is a Bear Market?

Back

A market in which prices are falling, encouraging selling.