US History Unit 2 Lesson 2 Key terms

organization in which the voting rights of a controlling number of shares of competing firms are held by a small group

• trust

• horizontal integration

• market economy

• vertical integration

control of all companies and facilities at one stage of production

• trust

• horizontal integration

• market economy

• vertical integration

people are free to buy and sell goods and services on an open market

• trust

• horizontal integration

• market economy

• vertical integration

total control over all stages of production and distribution

• trust

• horizontal integration

• market economy

• vertical integration

complete control over the production of a good or service

• monopoly

• laissez-faire

• Sherman-Antitrust Act

• corporation

policy where government interfers as little as possible

• monopoly

• laissez-faire

• Sherman-Antitrust Act

• corporation

a company recognized in law as a separate person

• monopoly

• laissez-faire

• Sherman-Antitrust Act

• corporation

prohibits activities that limit interstate business and competition in the marketplace

• monopoly

• laissez-faire

• Sherman-Antitrust Act

• corporation

a person who creates and operates a business and takes on greater than normal risks in order to do so

• entrepreneur

• innovation

• Bessemer Process

• Capitalism

process of putting new ideas and methods into practice

• entrepreneur

• innovation

• Bessemer Process

• Capitalism