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Wealthy Americans using their great fortunes to further social progress

Entrepreneur: Andrew Carnegie

Engaged in this tactic: Carnegie donated millions of dollars as the ''trustee and agent for tis poorer brethren'' other industrialist also contributed to social causes

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an economic system in which privately owned businesses have the freedom to operate for a profit with limited government intervention

Significance:  Individuals and businesses are allowed to compete for profit with a minimum of government interference. Capitalism..

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an economic method that had other companies assigns their stocks to the board of trust who would manage them. This made the head of the board, or the corporate leader wealthy, and at the same time killed off competitors not in the trust. This method was used/developed by Rockefeller, and helped him become extremely wealthy. It was also used in creating monopolies

significance: Firms or corporation's that combine for the purpose of reducing competition and controlling prices( establishing a monopoly). There are anti trust laws to prevent these monopolies

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When a single company achieves control of an entire market

significance: exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices

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is an arrangement in which the supply chain of a company is owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need.
Significane:When you buy your suppliers out, in order to control your own raw materialss and businesses.

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is a strategy where a company creates or acquires production units for outputs which are alike-either complementary or competitive. One example would be when a company acquires competitors in the same industry doing the same stage of production for the creation of a monopoly
Significance: The combining of many firms engaged in the same type of business into one large corporation