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Age of Big Business – Age of Monopolies

Age of Big Business – Age of Monopolies. Capitalism – economic system Private ownership of the means of production Free enterprise (business management) – to meet the demands Profit motive – goal to make $ Market price – buyers & sellers Competition.

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Age of Big Business – Age of Monopolies

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  1. Age of Big Business – Age of Monopolies • Capitalism – economic system • Private ownership of the means of production • Free enterprise (business management) – to meet the demands • Profitmotive – goal to make $ • Market price – buyers & sellers • Competition

  2. Age of Big Business – Age of Monopolies • To gain control of a product or business • Types of monopolies • Holding companies • Interlocking directorates • Mergers/Consolidations • Pools (pooling agreements) RR’s – divide routes & agree not to compete

  3. 3 New Vocabulary words… • Monopoly: A company that completely dominates a particular industry • Trust: a set of similar companies managed by a small group known as trustees, who can prevent companies in the trust from competing with each other • Corporation: A company recognized by law to exist independently from its owners, with the ability to own property, borrow money, sue or be sued

  4. Corporate Monopolies Horizontal vs. Vertical Integration

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