Labor

The workers, or employees, of a company

Management

People who are ‘in charge’ of a company – they make

the decisions

Union

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An organized group of workers

who “fight” to improved various

working conditions

American Federation

of Labor

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A labor union created by

Samuel Gompers. They used strikes

to get higher wages and

shorter hours

Big Business

Term used to describe the

corporation sand monopolies since

the industrial revolution of the

late 1800s.

Capital

The total worth of a company

in money, stocks,

goods, ,or machinery (assetts)

Capitalism

Economic system where

there is private

ownership, competition, and profit.

AndrewCarnegie

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Scottish immigrant who dominated the

steel industry by 1890. He later sold his steel company and

supported charities.

Child LaborLaws

“Abolish Child Slavery”

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Laws designed to protect

children who work in

industry or agriculture

Collective Bargaining

Negotiations, or discussions,

between a union and management

usually about wages, hours,

work conditions, or rules at the

workplace.

Competition

The opportunity for businesses to provide the best

product or service at a lower price than other

businesses

Congress of Industrial

Organizations

In 1938 the industrial union joined together and formed this

organization, called the CIO

Consumer Goods

Products made or grown by

producers, and used by the

people.

Corporation

A business that is owned by many

investors (stockholders)

Entrepreneur

An individual who organizes and manages a

business for profit ($$)

Samuel Gompers

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More rights for workers!

He create the American

Federation of Labor – a

powerful union in the United States

HomesteadStrike

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1892 steel strike in Homestead, PA over wages. The strike ended in

violence with the U.S. government

send in the national guard

Industrial Revolution

General period of time in the late 18th

century AND 19th century when goods

that were usually made in the home or

small shop were produced in factories with new inventions.

Sweatshop

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Workplace where people labor long

hours in poor conditions for low

pay – an awful place to work