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1. Growth of Big
Business & Industry

2. Corporation
• A business that is owned by many investors.
• Examples: Facebook, Verizon, Microsoft

3. Stock
• Share of ownership in a corporation.
• A part owner of a corporation.

4. Dividend
• A share of a corporations profit.

5. Monopoly
• A company or group having control of all or nearly all of the
business of an industry.
• This would create no competition and higher prices for a bad
product.

6. Trust
• Group of corporations run by a single board of directors.

7. Free Enterprise System
• An economic system in which businesses are owned by private
citizens who decide what to produce, how much to produce
and how much to charge.
• Examples: The stores on Main Street in Chatham

8. Vertical Integration
• A single manufacturer controls all of the steps used to change
raw materials into finished products.
• Furniture company, saw mill, trucking company

9. Patent
• License for a new invention.

10. Sherman Anti-Trust Act
• A law passed in 1890 that banned the formation of trusts and
monopolies in the United States.
• Prevents one person or company from controlling the entire
market.

11. Mass Production
• Process of making large quantities of a product quickly and
cheaply.

12. Moving Assembly Line
• Method of production in which workers stay in one place as
products edge along a moving belt.

13. Sweatshop
• Workplace where people labor long hours in poor conditions
and low pay.

14. Collective Bargaining
• Process by which a Union representing a group of work
negotiates with management for a contract.