Coach Crews US History Vocabulary Define the following terms Sole proprietorship pg 101 Partnership pg 101 Deflation Industrial union Lockout Arbitration Injunction Closed ID: 246978
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Slide1
Consolidating Industry
Coach Crews
U.S. HistorySlide2
Vocabulary
Define the following terms:
Sole proprietorship – pg. 101
Partnership – pg. 101
Deflation
Industrial union
Lockout
Arbitration
Injunction
Closed
shopSlide3
Consolidating Industry
Who was Andrew Carnegie?
Wealthy industrialist known for vertical integration of the steel industry
What is vertical integration of a company?
A company buys all the different businesses it depends on
Resources-shipping-mill-production company
What is horizontal integration?
Buying competing companies and merging them into one large corp
.
Independent steel mills-steel companySlide4
Consolidating Industry
Who was John D. Rockefeller?
Achieved near total horizontal integration of the oil refinery
industry
People feared monopolies would ruin competition
How did Standard Oil find a way around laws?
Formed a trust, allowing trustees to own businesses as if a single company
What is a holding company?
Primary business is owning a controlling share of stock in another companySlide5
Consolidating Industry
What encouraged the growth of the advertising industry?
Retailers and products competed for
customers
Large illustrated ads
New developments in retail sales?
Department
stores (Grand Depot),
chain
stores (Woolworth’s),
mail-order catalogs
(Sears and Roebuck)