Social Studies Vocab

studied byStudied by 0 people
0.0(0)
learn
LearnA personalized and smart learning plan
exam
Practice TestTake a test on your terms and definitions
spaced repetition
Spaced RepetitionScientifically backed study method
heart puzzle
Matching GameHow quick can you match all your cards?
flashcards
FlashcardsStudy terms and definitions

1 / 21

flashcard set

Earn XP

Description and Tags

22 Terms

1
supply
The amount of a product available for sale
New cards
2
demand
Willingness and ability to purchase a good or service
New cards
3
surplus
Too much of a product
New cards
4
deficit
Not enough of a product
New cards
5
competition
Two or more companies in the same industry fighting for the consumer’s business
New cards
6
monopoly
A company or group having control of all or nearly all of the business in an industry.
New cards
7
trust
A group of corporations run by a single board of directors
New cards
8
consolidate
To combine business with the motive to eliminate competition and increase profits
New cards
9
rebate
A partial refund to someone who has paid too much for tax, rent, utility, or any other required payment.
New cards
10
stock
A share of ownership in a corporation
New cards
11
vertical integration
The practice of when a single manufacturer controls all steps to change raw material to the finished product.
New cards
12
capital
Money raised for a business venture
New cards
13
corporation
A business owned by investors (In the stock market)
New cards
14
dividend
Share of a corporation’s profit
New cards
15
free enterprise
Businesses are owned and operated by private citizens, not the government
New cards
16
assembly line
Method of production in which workers stay in one place as products move past them on a machine.
New cards
17
mass production
Process of making large quantities of a product quickly and cheaply
New cards
18
John Rockefeller
Founder of the Standard Oil Company, becomes one of the richest people ever.
New cards
19
Andrew Carnegie
Led US steel and steel industry in the late 19th century and became one of the richest Americans in history.
New cards
20
JP Morgan
American financier and industrial organizer, one of the world’s foremost financial figures.
New cards
21
Cornelius Vanderbilt
American business icon who was wealthy from railroads + shipping.
New cards
22
Labor Union
An organized association of workers, often in a trade or profession, formed to protect and further their rights and interests.
New cards

Explore top notes

note Note
studied byStudied by 87 people
702 days ago
5.0(2)
note Note
studied byStudied by 8 people
692 days ago
5.0(2)
note Note
studied byStudied by 12 people
467 days ago
5.0(1)
note Note
studied byStudied by 59 people
695 days ago
5.0(2)
note Note
studied byStudied by 44 people
967 days ago
5.0(1)
note Note
studied byStudied by 14 people
239 days ago
5.0(1)
note Note
studied byStudied by 15 people
890 days ago
5.0(1)
note Note
studied byStudied by 139306 people
333 days ago
4.8(594)

Explore top flashcards

flashcards Flashcard (27)
studied byStudied by 132 people
686 days ago
5.0(6)
flashcards Flashcard (34)
studied byStudied by 13 people
506 days ago
5.0(1)
flashcards Flashcard (24)
studied byStudied by 7 people
702 days ago
5.0(1)
flashcards Flashcard (89)
studied byStudied by 35 people
99 days ago
5.0(2)
flashcards Flashcard (119)
studied byStudied by 10 people
30 days ago
5.0(2)
flashcards Flashcard (187)
studied byStudied by 8 people
460 days ago
5.0(1)
flashcards Flashcard (41)
studied byStudied by 3 people
676 days ago
5.0(1)
flashcards Flashcard (128)
studied byStudied by 69 people
85 days ago
5.0(1)
robot