1. Personal Response Directions: Do not write directions or the discussion prompt. Think about a response to the following questions and participate in the discussion. What are the pros and cons regarding one company’s ownership of all parts of an industry? How would single ownership of an industry effect consumers, corporate shareholders and governmental policies?

2. History Alive! Pursuing American Ideals Chapter 13 Key Terms The Age of Innovation and Industry

3. Chapter 13 Focus Question Was the rise of industry good for the United States?

4. Capitalism Definition: –An economic system in which factories, and other means of production are privately owned rather than government controlled.

5. Laissez-Faire Definition: –The idea that the free market, through supply and demand, will regulate itself if government does not interfere. –Free Market

6. Horizontal Integration Definition: –A corporate expansion strategy. –Involves joining together as many firms from the same industry as possible. John D. Rockefeller’s Standard Oil

7. Vertical Integration Definition: –Corporate expansion strategy –Control of each step in the production and distribution of a product. Acquiring raw materials to manufacturing, packaging, and shipping.

8. Time Warner Internet Movies Cable Providers MoviesTelevision Publishing Cartoon Network Turner Network Television (TNT) AOL Instant Messenger MapQuest Winamp Amazon.com (partial) Netscape Time Warner Cable Castle Rock Entertainment Warner Bros. Studios Hanna - Barbera Cartoons CNN HBO Court TV Road Runner Time People Mag. Sunset Books Sports Illustrated Fortune Kablevision (53.75% - cable television in Hungary) Radio CNN Radio http://cjrarchives.org/tools/owners/timewarner.asp