WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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monopoly
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laissez-faire
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entrepreneur
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corporation
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Detailed explanation-1: -A corporation is an organization that is authorized by law to carry on an activity but treated as though it were a single person.
Detailed explanation-2: -Corporations. A corporation is considered by law to be a unique entity, separate from those who own it. A corporation can be taxed, sued and enter into contractual agreements. The corporation has a life of its own and does not dissolve when ownership changes.
Detailed explanation-3: -Sole Proprietorship This is a business run by one individual for their own benefit. It is the simplest form of business organization.
Detailed explanation-4: -Key Takeaways. A cartel is a collection of independent businesses or organizations that collude to manipulate the price of a product or service. Cartels are competitors in the same industry and seek to reduce that competition by controlling pricing in agreement with one another.