Business owned by investors who buy shares of stock. What is a corporation? Business owned by investors who buy shares of stock.

Key terms dealing with corporations? Capital Stock Stockholder dividend Money to invest Share in a corporation (partial ownership) Owner of stock (partial owner of a company) Payment to stockholder from a corporations profit

So why do you invest in a corporation? To make money – either through the price of your stock going up and then you sell it for a profit or through dividends.

Key terms dealing with railroads? network consolidate rebates pool System of connected lines When companies combine Discounts to large customers Several railroad companies divide up business and agree to charge high rates

What do we need to know about the steel industry? Leading company Leading individual Name of process for making cheap and strong steel U.S. Steel Andrew Carnegie Bessemer Process

Important individuals in the rise of big business? J.P. Morgan Andrew Carnegie John D. Rockefeller Cornelius Vanderbilt Leading banker U.S. Steel (Steel Industry) Standard Oil (Oil Industry) Steamships and railroads

What do Carnegie, Rockefeller and Vanderbilt all have in common? Started as poor people Became filthy rich Gave away most of their profits to projects benefiting society

Important terms for big business. Trust monopoly Free enterprise system Group of corporations run by a single board of directors. Company that controls all of an industry. Businesses that are owned by private citizens. Companies compete by making the nest products at the lowest price.

Inventors and inventions you need to know: Sleeping car telephone phonograph Light bulb Automated assembly line (allowed for mass production) George Pullman Alexander Graham Bell Thomas Edison Henry Ford