1. Growth of Big Business & Industry

2. Corporation A business that is owned by many investors.
Examples: Facebook, Verizon, Microsoft

3. Stock Share of ownership in a corporation.
A part owner of a corporation.

4. Dividend
A share of a corporations profit.

5. Monopoly
A company or group having control of all or nearly all of the business of an industry.
This would create no competition and higher prices for a bad product.

6. Trust
Group of corporations run by a single board of directors.

7. Free Enterprise System
An economic system in which businesses are owned by private citizens who decide what to produce, how much to produce and how much to charge.
Examples: The stores on Main Street in Chatham

8. Vertical Integration
A single manufacturer controls all of the steps used to change raw materials into finished products.
Furniture company, saw mill, trucking company

9. Patent
License for a new invention.

10. Sherman Anti-Trust Act
A law passed in 1890 that banned the formation of trusts and monopolies in the United States.
Prevents one person or company from controlling the entire market.

11. Mass Production
Process of making large quantities of a product quickly and cheaply.

12. Moving Assembly Line
Method of production in which workers stay in one place as products edge along a moving belt.

13. Sweatshop
Workplace where people labor long hours in poor conditions and low pay.

14. Collective Bargaining
Process by which a Union representing a group of work negotiates with management for a contract.