| A | B |
|---|
| Monopoly | When a specific person or enterprise is the only supplier of a particular commodity. |
| Trust | A large business, originally, it was a legal instrument used to consolidate power by large American enterprises. |
| Laissez Faire | An environment in which transactions between private parties are free from state intervention. |
| Sherman/Clayton Anti-trust | A landmark federal statute on competition law passed by Congress in 1890. |
| Interstate Commerce Act | A United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. |
| Free Enterprise System | The free enterprise movement started in the 1700s, when many individuals were restricted from starting and owning their own business without the permission of the government. |
| Social Darwinism | Theories of society that emerged in England and the United States in the 1870s, seeking to apply the principles of Darwinian evolution to sociology and politics. |
| Urbanization | Physical growth of urban areas as a result of global change. |
| Labor Unions | An organization of workers that have banded together to achieve common goals such as better working conditions. |
| Collective Bargaining | Process of negotiations between employers and the representatives of a unit of employees aimed at reaching agreements that regulate working conditions. |
| Bessemer Process | A cheap efficient way of making steel developed in 1850 |
| Andrew Carnegie | Rags to riches; Steel ; millionaire; vertical integration |
| John Rockefeller | Established Standard Oil, trusts; Robber Baron; Millionaire; donated a lot of $$ |
| AFL/WWW | Alliance of trade craft unions |
| Robber Baron | American capitalist who acquired a fortune in the late nineteenth century by ruthless means |
