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2 pt 3 pt 4 pt 5pt 1 pt 2 pt 3 pt 4 pt 5 pt 1 pt 2pt 3 pt 4pt 5 pt 1pt 2pt 3 pt 4 pt 5 pt 1 pt 2 pt 3 pt 4pt 5 pt 1pt Econ. Inventions People Labor Vocabulary
What is point where the supply and demand curve meet called?
As the quantity demanded on the supply curve increases, the price ______.
Factors that cause a change in supply or demand are called _____________.
The price and availability of ____________ can effect the demand curve.
If the demand curve shifts left, what happens to the price and quantity demanded?
What invention increased production ability (think Ford)?
What is the license to make, use or sell an invention called?
What made the mass production of steel possible?
What invention allowed cities to grow upward?
What 2 items contributed to economic growth by improving nationwide communication?
What group made up the majority of unskilled laborers?
Ruthless business leaders were called _____ _____.
Who developed a company that monopolized the Oil industry?
What was Edison’s most significant contribution to industrialism?
Distribution of electricity
Who was the Steel Company owner that implemented vertical consolidation?
What is a company that dominates a particular industry called?
A person that used their wealth to benefit society was a ______ _ _______.
Captain of industry
What group of people would have been employed as unskilled factory workers?
A corporation is owned by___________.
What are the 4 phases in the Business Cycle?
Growth, peak, recession, depression
What theory preached a “survival of the fittest” approach towards business and society?
Risk takers who establish new business
Controlling all phases of a product’s development is know as?
One who donates time or money to support worthy causes.
What is the philosophy that favors public control of property and income?
How did business change during the Industrial Revolution?
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