Week 1 Business in the Gilded Age

the person who purchases the resources, builds the facility to create the product, and pays the labor force: owns the profit and debt ​ (a)  

• investor
• shareholder
• manager
• proprietor

the people who work to create goods and services (a)  

• labor force
• consumer market
• service industry
• capital resources

when different resources and industries rely upon each other to build a product ​ (a)  

• interdependence
• independence
• isolation
• self-sufficiency

an individual who dominates a business area and controls prices and wages (a)  

• mogul
• amateur
• novice
• employee

controls so many of the resources that no other business can enter the market (a)  

• monopoly
• oligopoly
• duopoly
• cartel

the practice of giving money and time to help make life better for other people (a)  

• philanthropy
• selfishness
• greed
• indifference

wealthy and privileged​ (a)  

• gilded
• destitute
• impoverished
• needy

consumer price minus the cost to produce the good or service (a)  

• profit
• loss
• expense
• debt

Gilded Age Moguls

Groups:

(a) Andrew Carnegie

,

(b) John D Rokcergeller

,

(c) Henry Ford

• refined oil

• Carnegie Steel

• Ford Motor Company

• made & shipped Steel

• Standard Oil Company

• automobiles

Gilded Age Moguls

Groups:

(a) Cornelius Vanderbilt

,

(b) J.P. Morgan

• J.P. Morgan & Company

• Accessory Transit Company

• financier and business organizer

• land & sea transportation