Vocabulary



 
 
Term Definition
entrepreneur a person who organizes and manages an enterprise or business
robber baron a term used to describe powerful business leaders during the post Civil war period
trust a combination of firms or corporations for the purpose of reducing competition
philanthropist a person who gives large amounts of money to charities 
pooling An agreement between competing businesses to establish control over production and prices
capitalism an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly in competition in a free market.
monopolize to dominate by excluding others
anti-trust laws a series of laws passed by the U.S. government that tries to maintain competition and prevents business form getting a monopoly
price fixing an un lawful agreement between manufactures to maintain specified prices on usually competing companies
rebate a return of part of an amount given in payment