| A | B |
|---|
| Monopoly/Trust | Complete control of a product or service, many companies under the control of one managing board. Standard Oil Trust |
| Laissez-faire capitalism | Government policy of not interfering in private business. |
| Robber baron | an industrialist who uses ruthless business tactics to eliminate competition. |
| Sherman/Clayton Anti-Trust Acts | Laws against monopolies or trusts; outlawing combinations of companies that restrained trade or commerce. |
| Interstate Commerce Act (ICC) | an 1887 law that regulated railroads and other interstate business. |
| Free-enterprise system | economic system in which companies compete for profits. |
| Social Dawinism | a business philosophy emphasing "survival of the fittest" |
| Urbanization | a move from rural areas to the city |
| Collective bargaining | A process in which workers negotiate as a group with their employer(s). |
| Labor Union | An organization of workers formed to protect the interests of its members, such as wages, hiring practices, and working conditions |
