Chapter 5 Review- Big Business

This is an organization owned by many people but is legally treated as though it were a person. (10 letter word). Page 194

These are people that own corporations. (12 letter word). Page 194

As corporations in the 1800s began to achieve economies of scale, goods were purchased in large quantities and this happened to the cost of manufacturing. (9 letter word). Page 194

A huge advantage that big corporations had in the late 1800s is that they could produce goods cheaply and efficiently and had _____ operating costs. (5 letter word). Page 195

These were issued by corporations and helped finance business by raising large amounts of money needed for big projects or investments. (5 letter word). Page 195

Andrew Carnegie's use of this type of converter allowed his steel mills to produce large quantities of inexpensive steel. (8 letter word). Page 196

Andrew Carnegie's first job was working for Tom Scott, the president of this railroad company. (11 letter word). Page 196

Andrew Carnegie used vertical integration by purchasing limestone quarries, coal mines, and iron ore fields that his company needed in the manufacturing of this product. (5 letter word). Page 197

By 1870, John D. Rockefeller's Standard Oil Company did more of this with oil than anyone else in the nation. (8 letter word). Page 197

When John D. Rockefeller's Standard Oil Company began controlling the entire oil refining industry in our country, he created one of these. (8 letter word). Page 197