Topic 2.2 - Corporations and the Rise of Big Business

Flashcard
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History
•
10th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
What was the main reason for the rise of big business in the United States?
Back
Investment of private financial resources
2.
FLASHCARD QUESTION
Front
What is a corporation?
Back
A form of group ownership where multiple people share the ownership of a business.
3.
FLASHCARD QUESTION
Front
What are the economic advantages of being a big business?
Back
Lower cost per unit as volume increases, Larger production facilities for increased volume, Bulk pricing of raw materials.
4.
FLASHCARD QUESTION
Front
What is horizontal integration?
Back
The consolidation of many firms in the same business
5.
FLASHCARD QUESTION
Front
What is vertical integration?
Back
The control of different businesses involved in all stages of manufacturing a product
6.
FLASHCARD QUESTION
Front
What is the Sherman Antitrust Act?
Back
A law that outlawed any trust that operated in restraint of trade or commerce among the several states.
7.
FLASHCARD QUESTION
Front
What is Social Darwinism?
Back
The theory that wealth is a measure of one's inherent value
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