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Related Flashcards
Related Topics
Cards In This Set
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Social Darwinism
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The idea that society progresses through natural competition, where the "fittest" people, businesses, or nation should and would rise to positions of wealth and power, wheras the unfit fail.
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Vertical Integration
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To acquire(buy) companies that provide the materials and services upon which an enterprise depends.
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Horizontal Integration
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When one company buys other companies producing the same product.
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Monopoly
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What occurs when a trust gains control of an industry.
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Trust
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A board of trustees manages the stock of several companies who are all part of one industry.
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Corporation
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Organizers raise money by selling shares of stock, or certificates of ownership, in the company.
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Capitalism
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An economic system in which private businesses run most industries and competition determines how much goods cost and workers are paid.
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Communism
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An economic system in which individual propery is not allowed, instead property and means of production are owned by everyone in the community.
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Free Enterprise
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An economic system in which businesses are left free from government regulation and allowed to compete in a free market.
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Social Critics
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People that criticized and analyzed the idea of social darwinism and who called for change.
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