SSUSH11B

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Big Business

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Large-scale corporate enterprises that dominated industries after the Civil War.

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Trust

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A group of corporations run by a single board of directors to reduce competition.

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Monopoly

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Complete control of a product or service, eliminating competition.

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Vertical Integration

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Controlling all aspects of production, from raw materials to distribution.

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Horizontal Integration

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Buying out competitors to consolidate market control.

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John D. Rockefeller

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Founder of Standard Oil, pioneer in monopolies and vertical integration.

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Andrew Carnegie

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Founder of Carnegie Steel, philanthropist, and innovator in steel production.

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Standard Oil

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Rockefeller’s company that monopolized oil refining and distribution.

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Carnegie Steel

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The company that revolutionized steel production using the Bessemer process.

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Bessemer Process

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A method of steel production that made steel cheaper and faster to produce.