Module 3 - Academic Vocab Quizs

vertical integration

• Process in which a company buys out its suppliers

• A strategy to increase market share by lowering prices

• A method of outsourcing production to third parties

• A technique for diversifying product lines

Cornelius Vanderbilt

• Major figure in the expansion of regional railroads

• Famous American author of the 19th century

• Notable inventor of the telegraph

• Prominent politician during the Civil War

Industrial Workers of the World (IWW)

• A union of conservative workers

• A union of radicals and socialists nicknamed the Wobblies

• A political party focused on capitalism

• A group advocating for environmental issues

transcontinental railroad

• A railroad that crosses the entire country

• A railroad that operates only in one state

• A railroad that connects two cities within a state

• A railroad that is used for freight only

horizontal integration

• Process in which companies producing similar products merge

• A strategy where a company diversifies its product line

• A method of increasing market share through price reduction

• A technique for improving employee productivity

Eugene V. Debs

• Leader of the American Railway Union, an industrial union

• Founder of the American Federation of Labor

• President of the United States

• Notable author and playwright

Crédit Mobilier

• A company involved in stealing of railroad money

• A French bank established in the 19th century

• A type of investment fund

• A railroad construction company

Christopher Sholes

• Inventor of the typewriter

• Creator of the printing press

• Designer of the first computer

• Pioneer of the telegraph

Lewis H. Latimer

• African American inventor of the carbon filament

• Inventor of the telephone

• Pioneer in aviation technology

• Developer of the first electric car

Alexander Graham Bell

• Inventor of the telephone

• Inventor of the light bulb

• Inventor of the radio

• Inventor of the airplane