Big business

Question Answer
Capitalism A economic system and an ideology based on private ownership
Free Enterprise An economic system in which private business operates in competition and largely free of state control
Communism Class war and leading to a society in which all property is publicly owned and each person works and is paid
Social Darwinism The fittest or best adapted individuals, or entire societies, would prevail
Corporation A company or group of people authorized to act as a single entity and recognized as such in law.
Trust An organization or company managed by trustees.
Monopoly The exclusive possession or control of the supply or trade in a commodity or service.
Vertical Integration One company of two or more stages of production normally operated by different companies.
Horizontal Integration The process of a company increasing production of goods at the same part of the supply chain
Cornelius Vanderbilt Was the most wealthiest man from railroad
George Pullman Made the sleeping car, a luxurious railroad coach designed for overnight travel
Horatio Alger Jr. Made books for kids that had characters that had had a poor life but became rich.
Andrew Carnegie Carnegie made the biggest steel industry
John D. Rockefeller Rockefeller was the founder of the standard oil company

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