entrepreneur
protective tariff
laissez-faire
patent
suspension bridge
time zone
mass production
corporation
monopoly
cartel
horizontal integration
trust
vertical integration
sweatshop
company town
collective bargaining
socialism
policy that allows businesses
to operate under minimal
government regulation
one of the 24 longitudinal
areas of the world within
which the same time is used
complete control of a
product or service
an arrangement where companies assign
their stock to a board of trustees, who
combine them into a new organization;
trustees run the organization and pay
themselves dividends on profits
community owned by a
business that rented
out houses to
employees
tax on imports designed to
make imported goods cost
more than those made locally
bridge in which the
roadway is suspended
by steel cables
a business in which a
number of people share
ownership
grant by the federal
government giving an inventor
the exclusive right to develop,
use, and sell an invention for a
set period of time
system in which factories turn
out large numbers of products
quickly and expensively
arrangement in which
system of consolidating many
firms in the same business
into a single company
businesses making the same
product agree to limit their
production, keeping prices
high
factory that employs people
to work for long hours on
machines making
mass-produced items
system of a corporation gaining
control of the many different
an economic and political
negotiating as a group
for higher wage or better
working conditions
philosophy that favors public,
instead of private, control of
property and income
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person who invests
money in a business to
make a profit
businesses that make up all
phases of a product’s
development