6. Define or explain the following terms: Gilded Age Catalyst Dynamo Unscrupulous recession gross national product entrepreneur trust

The terms are defined and explained as follows: Gilded Age, Catalyst, Dynamo, Unscrupulous, Recession, Gross National Product, Entrepreneur, Trust. Explanation 1. **Gilded Age**: The Gilded Age refers to the late 19th century in the United States, a period marked by rapid economic growth, industrialization, and a sharp increase in wealth disparity. It was characterized by political corruption, corporate monopolies, and extravagant displays of wealth, often masking underlying social issues. 2. **Catalyst**: In a chemical context, a catalyst is a substance that increases the rate of a chemical reaction without being consumed in the process. In a broader sense, it can refer to any factor or event that precipitates change or action. 3. **Dynamo**: A dynamo is a device that converts mechanical energy into electrical energy, typically using the principle of electromagnetic induction. It was historically significant in the development of electricity generation. 4. **Unscrupulous**: This term describes a person or behavior that is not restrained by moral or ethical principles, often engaging in deceitful or dishonest practices. 5. **Recession**: A recession is a period of economic decline characterized by a decrease in GDP, employment, and trade, typically lasting for at least two consecutive quarters. 6. **Gross National Product (GNP)**: GNP measures the total economic output produced by the residents of a country, including the value of goods and services produced both domestically and abroad. 7. **Entrepreneur**: An entrepreneur is an individual who initiates, manages, and assumes the risks of a business or enterprise, often bringing innovation and new ideas to the market. 8. **Trust**: In a historical and economic context, a trust refers to a large business entity or conglomerate formed by the consolidation of multiple companies to reduce competition and control markets.