american history ch 3 – Flashcards
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t or f the growth of the population between 1860 and 1910 provided industrialists with a large workforce and also creted greater demand for the consumer goods factories produced.
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t
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t or f in the late 1800s, large trade unions generally failed, but industrial unions prospered.
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f- PROSPERED, FAILED
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t or f machines could mass-produce shoes more cheaply and efficiently than local cobblers
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t
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t or f in the late 1800s, workers buying power generally decreased.
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f-INCREASED
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t or f supporters of laissez-faire believe the government should not interfere in the economy other than to protect private property rights and maintain peace
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t
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t or f some labor supporters were anarchists, who believed that society did not need any government
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t
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what did several railroads announce in july of 1877 that triggered the first nationwide labor protest
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wage cuts
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in the late 1800s, workers buying power generally increase because
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prices fell faster than wages
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department stores changed the idea of shopping by
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bringing together a huge array of different products.
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northern ? traditionally supported high tarrifs to protect them from competition overseas
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entrepreneurs
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when a single company achieves control of an entire market, it is known as
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a monopoly
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the first oil well was drilled near titusville, pennsylvania, by
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edwin drake
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supporters of laissez-faire generally favor
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free trade
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in contrast to department stores, which offered many services, chain stores focused on offering
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low prices
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the knights of labor suffered a steady decline in membership and influence due to lost strikes and
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the haymarket riot
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laissez-faire relies on ? to regulate prices and wages.
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supply and demand
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how did N. W. Ayer and Son, the first advertising company, try to attract customers?
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by using large illustrated ads
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the total value of all goods and services that a country produces is its
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gross national product
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the two railroads that built the transcontinental railroad were the
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union pacific and central pacific
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a ? was a technique for breaking a union through which the company refused to allow workers onto their property
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lockout
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people who risk their own money to organize and run businesses are known as
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entreprenuers
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when a union called a strike, employers would often hire replacements, called
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strikebreakers
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one reason for the countrys industrial success was its vast abundance of natural
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recources
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in the credit mobilier scandal, union pacifc investors got rich by
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paying inflated bills from a construction company they controlled.
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to make rail service more reliable, in 1883 the american railway association
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divided the country into standardized time zones
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during the early days of industrialization, many members of congress believed that tariffs were necessary to
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protect new industries from foreign competition
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employers generally viewed unions as
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conspiracies that interfered with property rights
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a shortage of workers in california forced the central pacific railroad to hire about 10,000 workers from
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china
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issuing stock allows a corporation to raise large amounts of money for big projects while
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spreading out the financial risk
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who began the first modern industrial research laboratory, reulting in many new inventions, including the battery and the motion picture
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thomas alva edison
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even before the invention of the automobile, petroleum was in high demands because it could
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be turned into kerosene
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the government offered each railroad company building the transcontinental railroad ? along it right-of-way.
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land
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what is one advantage that big corporations had over small businesses
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they could produce goods more cheaply and efficiently.
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what is an organization owned by many people but treated by law as though it were a single person
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a corporation
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the american federation of labor pushed for closed shops, meaning that companies
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could only hire union workers
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to build their railroads, railroad companies raised most of the money they neede from
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selling government land grants
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owns stock in companies that produce goods
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holding company
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specialized in helping sell large blocks of stock to investment bankers
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J. P. Morgan
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founder of a steel company in pittsburgh
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andrew carnegie
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manages property for others
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trust
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operated standard oil
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john d. rockefeller
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implicated in the credit mobilier scandal
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oakes ames
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made a fortune from the central pacific railroad
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leland stranford
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notoriously corrupt railroad owner
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jay gould
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built the great nothern railroad
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james j. hill
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chief engineer of the union pacific railroad
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greenville dodge
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wages, shipping charges, and supplies
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operating costs
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iron moders' international union, for example
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trade union
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represented all workers in a particular industry
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industrial union
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began the railroad boom
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pacific railway act
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loans, mortages, and taxes
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fixed costs
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allowed cloth to be made more quickly
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automatic loom
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enabled longer and heavier trains
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air brakes
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saw capitalism as a struggle between workers and owners
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karl marx
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belief that the government should not interfere in the economy
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laissez-faire
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head of the american railway union
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eugene v. debs
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