Chapter 4 vocabulary

Question 1

the business practice of owning all of the businesses in each step of the manufacturing process

Accepted Answer

Vertical Intergration

Question 2

a view of society based on Charles Darwin's theory of natural selection

Accepted Answer

Social Darwinism

Question 3

a complete control over the entire supply of goods or a service in a particular market

Accepted Answer

Monopoly

Question 4

technique used by labor unions where workers act collectively to change working conditions

Accepted Answer

Collective Bargining

Question 5

a business that sells portions of ownership called stock shares

Accepted Answer

Corporations

Question 6

Owning all the businesses in a certainn field

Accepted Answer

Horizontal Intergration

Question 7

a secret society that became the first truly national labor union in the U.S.

Accepted Answer

Knights of Labor

Question 8

a number of companies legally grouped under a single board of directors

Accepted Answer

Trust

Question 9

an exclusive right to make or sell an invention

Accepted Answer

Patents

Question 10

a period of rapid growth in manufacturing and industry in the late 1800s

Accepted Answer

Second Industrial Revolution

Question 11

a law that made it illegal to create monopolies or trusts that restrained free trade

Accepted Answer

Sherman Antitrust Act

Question 12

an organization that united skilled workers into national unions for specific industries

Accepted Answer

American Federation of Labor

Question 13

a process developed in the 1850s that led to faster, cheaper steel production

Accepted Answer

Bessemer Process

Questions 13