Gilded Age vocab part one

What is the term for a person who starts and runs a business, taking on financial risks in the hope of profit?

• Entrepreneur

• Abolitionist

• Immigrant

• Industrialist

Which term refers to the process of making large quantities of a product quickly and cheaply?

• Mass Production

• Vertical Integration

• Free Enterprise

• Horizontal Integration

What is the economic policy of letting owners of industry and business operate without government interference?

• Laissez Faire

• Protective Tariff

• Urbanization

• Industrialization

Which term describes the movement of people from rural areas to cities?

• Urbanization

• Industrialization

• Immigration

• Integration

What is the term for a tax on imported goods to protect domestic industries?

• Protective Tariff

• Interstate Commerce Act

• Cash Crop

• Business Monopoly

Which term refers to the exclusive control of a commodity or service in a particular market?

• Business Monopolies

• Free Enterprise

• Vertical Integration

• Horizontal Integration

What is the term for the integration of companies that produce similar products?

• Horizontal Integration

• Vertical Integration

• Mass Production

• Industrialization

Which term refers to the integration of companies that supply equipment and services needed for a particular industry?

• Vertical Integration

• Horizontal Integration

• Mass Production

• Free Enterprise

What is the term for a crop produced for its commercial value rather than for use by the grower?

• Cash Crop

• Mass Production

• Free Enterprise

• Protective Tariff

Which term refers to the policy of minimal governmental interference in the economic affairs of individuals and society?

• Laissez Faire

• Protective Tariff

• Urbanization

• Industrialization