Big Businesses Rise

What is a corporation?

• the freedom to run a business

• policies that allow businesses to operate under minimal government regulation

• the freedom to run a business for profit with minimal regulation beyond what's necessary

• a number of people share ownership of a business

How are the rights of a corporation similar to individual rights?

• a corporation can buy and sell property

• a corporation can sue in the courts

• if one person left the corporation, the others could buy their interests

• a corporation can be protected from foreign investment

What is a cartel?

• businesses making the same product agree to limit their production to keep their prices high

• complete control of a product or service

• a company either bought its competitors or drove them out of business

• companies assigned their stock to a board of trustees who combined them into a new organization

What is a trust?

• businesses making the same product agree to limit their production to keep their prices high

• complete control of a product or service

• a company either bought its competitors or drove them out of business

• companies assigned their stock to a board of trustees who combined them into a new organization

What is a monopoly?

• businesses making the same product agree to limit their production to keep their prices high

• complete control of a product or service

• a company either bought its competitors or drove them out of business

• companies assigned their stock to a board of trustees who combined them into a new organization

What is horizontal integration?

• businesses making the same product agree to limit their production to keep their prices high

• a company gains control of the different businesses involved in all stages of manufacturing their products

• a company either bought its competitors or drove them out of business

• companies assigned their stock to a board of trustees who combined them into a new organization

What is production management?

• a management innovation designed to ensure workers' safety

• a management innovation designed to maximize the efficiency of a production process

• a management innovation designed to make investments in other companies

• a management innovation that ensures workers have a say in production

Cornelius Vanderbilt was a(n)

• railroad tycoon

• steel tycoon

• oil tycoon

• politician

John D. Rockefeller was a(n)

• railroad tycoon

• steel tycoon

• oil tycoon

• politician

Andrew Carnegie was a(n)

• railroad tycoon

• steel tycoon

• oil tycoon

• politician