Your assignment.

  • PART A:  Ten Vocabulary words.  As you read the text above select 10 vocabulary words (minimum).  You select the words new to you, or words used in a way new to you.  List each word and then a definition that fits the usage of the word.  Look up the definition in an academic dictionary (such as Oxford or Miriam Webster’s New Collegiate, but not Google.)  Then write the definition IN YOUR OWN WORDS.  Select as many vocabulary words as needed to fill up the requirement of 10.
  • PART B: Answer the following questions. Do NOT retype the question.
  1. In your own words explain the meaning of the word trust?  [Hint: see the passage above colored like this.]  Also check out this  Link

     (Links to an external site.)

  2. According to Veblen who were the first people to establish this kind of business?   Who were they and where did they come from?  When did they live?  Link (Links to an external site.)
  3. Veblen says this economic system developed in phases.  Describe in your own words the products, services, means of shipping, organization and means of control of the first phase of the great Viking enterprises.  [See the long passage colored like this.]
  4. What caused the first phase to end?
  5. What does cut-throat competition mean?
  6. How does Palnatoki [Link (Links to an external site.)] fit the definition of a successful business leader?
  7. Explain how and why the Jomsvikings [Link (Links to an external site.) ] fit the definition of a successful business trust? [Hint: the passage is colored like this.]
  8. How does the second phase differ from the first.   [See the passage colored like this.]
  9. What lessons can a modern captain of industry draw from the age of the Vikings and Jomsvikings?


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