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Big Business Vocabulary

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Presentation on theme: "Big Business Vocabulary"— Presentation transcript:

1 Big Business Vocabulary

2 Urbanization----growth of cities
Industrialization---movement from making things by hand to doing things by machines National Market---stores that are throughout the country Corporation---business that is owned by many investors. People cooperate to help the business be successful Capitalism---private ownership/private property. No limits on how much money you can make.

3 TRUST VS MONOPOLY

4 TRUST: multiple businesses controlling price and reducing competition.
Each business TRUSTS the other to control the price and competition. MONOPOLY: one business that controls all production and sales. MONO: ONE POLY: MANY ONE controlling MANY

5 What broke up Trusts?

6 The Sherman Anti-Trust Act Passed in 1890 to “protect trade and commerce against unlawful restraint and monopoly.

7 What is a Captain of Industry
What is a Captain of Industry? Who are the Captains that we have studied?

8 A person who leads/steers an industry.
Andrew Carnegie---STEEL Cornelius Vanderbilt---RAILROAD/SHIPPING Henry Ford---AUTOMOBILE John D. Rockefeller----OIL J.P. Morgan----BANKING

9 What are the inventions that we studied?
Who invented them, or made them popular?

10 Electric Light bulb----Thomas Edison
Power Plant- Thomas Edison Telegraph---Samuel Morse Model T---Henry Ford Long-distance Transformer---George Westinghouse Telephone---Alexander Graham Bell Assembly Line----Henry Ford

11 How did the previous inventions contribute to industrial growth?

12 Electric Light bulb----longer working hours
Power Plant- Electric power can be distributed to many light bulbs at once Telegraph---almost instant communication over long distances Model T---Cheap cars that the average person can afford Long-distance Transformer---Electric power is sent longer distances cheaper. Telephone---communicate by voice almost instantly over long distances Assembly Line---products are made faster and cheaper

13 What ingredients do all businesses need?

14 All Businesses Availability of large work(labor)force (A lot of people) Raw materials (Natural Resources) and energy Inventions (Capital Resources) Financial Resources (Money)

15 What causes some businesses to rise and prosper?

16 Captain of Industry Lower Cost Production Transportation Advertising

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