US History LEAP Terms Ch. 3 Industrialization

When an individual or a business controls or dominates an industry

Business strategy involving buying out all aspects of the production process

survival of the fittest applied to business allows the best individuals to succeed

Business strategy of buying out companies that create similar products

Early union that focused mainly of skilled/craft workers, broke off from Knights of Labor

US government passed this act in 1890 to break up monopolies and regulate private business, largely ineffective

Groups of companies that work together to control all aspects of the market

Radical union leader that ran for president 5 times during the early 1900s

The Bessemer process revolutionized which industry

Label given to business leaders due to unfair and ruthless practices

Early union that formed to focus on the rights of both skilled and unskilled workers

These were on the rise during the late 1800s, allowed individuals to invest in companies with less risk

Using money and influence to help society by creating programs for the less fortunate

Organizations that formed to fight for workers' rights during the late 1800s

Created by radical unionist and socialists, this union focused on unskilled workers rights

Economic policy that calls for little government involvement and low taxes