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Big Business

Question Answer
What is a Monopoly? A Monopoly is when a company that has controll over an entire indistry. They have little or no competition so they can charge as much as they want for their products.
What is Free Enterprise? A Free Enterprise is when people are free to start their own buisness and own their own property. Business owners decide what to produce and how much to charge.
What is a Consumer? A Consumer is a person who buys or uses a good or service.
What are Stocks? A Stocks is shares of a company sold to investors (the public).
What is Corporation? A Corporation is a business owned by investors.
What are Human Resources? Human Resources are people who work to produce goods and services.
What are Capital Resources? Capital Resources are tools and machines that companies use to produce goods and services
What are Natural Resources? Natural Resources are material or substance that occur in nature and can be used for economic gain.
What did Andrew Carngie discover or create? Andrew Carngie discovered steel. Steel was a stronger and more available. It could be used for buildings, cars, trains, railroads, etc.
What did John D. Rockafeller discover or create? John D. Rockafeller created a business that refined oil. He became a monopoly and he controlled the entire industry. Oil is used for oil, gasoline, kerosene, motor oil, etc.
What did JP Morgan discover or create? JP Morgan was a BILLIONAIRE!!! He was a leader of the banking industry. He provided loans for companies.
What is Trust? It is a way that people got away to get Monopoly.
What was a Trustee? It was a person who got away with monopoly.
What was the Sherman Antitrust Act? It was an act that said they couldn't trust.
What is the Labor Union? It was groups that represented workers to gain better working conditions.
What was the AFL? It was short for American Federation of Labor. It was founded by Samuel Gompers and it represented workers across the country. It also pushed a fair pay and better working conditions.
What was a Strike? It when a worker (s) refuse to work to get employers to meet their demands. Many employers used violence to force the workers back to work.
What did the woman do during Labor Unions? They were not allowed to join most labor unions, so they would form their own.
What happened when Americans moved to city's'? There was sewage in the street, overcrowding, and crime. People had to either: commute to work or live in the city. New York and Chicago made an electric car system. Boston had the 1st subway. This made it easier to commute to work.