American Industry Guided Notes

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Presentation transcript:

American Industry Guided Notes Big Business American Industry Guided Notes

Has the ability to raise capital by selling stock to the public What is a corporation? A corporation is an organization owned by many people, but treated by law as though it was a single person… Has the ability to raise capital by selling stock to the public

Why do corporations ISSUE STOCKS? They issue stocks to raise large amounts of money for big projects while spreading out the financial risk among its investors. Facebook Goes Public

What are fixed costs in business? Cost a company has to pay whether or not it is operating, such as loan, mortgage, and tax payments.

Operating Costs: Operating Costs: Occur when running a company, for example: wages for workers, shipping costs, and buying raw materials.

How did large corporations achieve economies of scale? By producing goods quickly in large quantities, which reduced the cost of manufacturing. Economies of Scale: Greater the quantity of a good produced, the lower the per-unit cost. Economies of Scale

Who was Andrew Carnegie? Wealthy industrialist known for his vertical integration in the steel industry. Vertical Integration: A company owns all parts of the industrial process.

How is horizontal integration different from vertical integration? Horizontal Integration involves buying competing companies in the same industry and combining them into one large corporation.

Vertical Integration

Who was John D. Rockefeller? A wealthy industrialist known for achieving near total horizontal integration of the oil refinery industry.

How did standard oil find a way around laws against monopolies in 1882? It formed the first trust in 1882, allowing the trustees to control several companies as if they were a single company. Trust: A combination of firms or corporations formed by a legal agreement, especially to reduce competition.

What is a holding company? A company whose primary business is owning controlling shares of stock in other companies.

what encouraged the growth of the advertising industry? Larger retailers and a wide array of products encouraged businesses to compete for customers with advertising. Vs. Galaxy>IPhone IPhone 6 Ad

Department stores, chain stores, and mail- ordered catalogs. What new developments in retail sales occurred in the late 19th century? Department stores, chain stores, and mail- ordered catalogs.