Chapter # 5 – Flashcards

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Monopoly- The exclusive possession or control of the supply or trade in a commodity or service.
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Union- The action or fact of joining or being joined.
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Thomas Edison
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An American inventor who created both the light bulb and the motion picture camera
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Interstate Commerce Act of 1887
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A federal law that prohibits the unjust practices of railroads which was charging higher rates for shorter routes
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Child Labor
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Business make underage children work; Kids are being forced to work to provide for their families
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Monopoly
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Owning and controlling the supply in a commodity; Claims all of the businesses
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Labor Union
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Workers formed into these groups to perform strikes to go against their horrible working conditions
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Alexander Graham Bell
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He created the first practical telephone
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Bessemer Process
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A new invention that allowed the mass production of steel; The process involves removing impurities from stell
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Sherman Anti-Trust Acts
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These are laws that does not allow bribery or conspiracy of business interest
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Philanthropy
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The act of donating money for the purpose of promoting the welfare of others.ex. John D. Rockefeller, Andrew Carnegie
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John D. Rockefeller
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A great philanthropist who used his fortune in the oil industry and became an individual monopoly
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Trans-continental Railroad
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A railroad that connected the US from east to west to transport goods
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Andrew Carnegie's Gospel of Wealth
answer
An article that describes the responsibility of philanthropy by the new upper class of the self-made rich
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question
Monopoly- The exclusive possession or control of the supply or trade in a commodity or service.
answer
Union- The action or fact of joining or being joined.
question
Thomas Edison
answer
An American inventor who created both the light bulb and the motion picture camera
question
Interstate Commerce Act of 1887
answer
A federal law that prohibits the unjust practices of railroads which was charging higher rates for shorter routes
question
Child Labor
answer
Business make underage children work; Kids are being forced to work to provide for their families
question
Monopoly
answer
Owning and controlling the supply in a commodity; Claims all of the businesses
question
Labor Union
answer
Workers formed into these groups to perform strikes to go against their horrible working conditions
question
Alexander Graham Bell
answer
He created the first practical telephone
question
Bessemer Process
answer
A new invention that allowed the mass production of steel; The process involves removing impurities from stell
question
Sherman Anti-Trust Acts
answer
These are laws that does not allow bribery or conspiracy of business interest
question
Philanthropy
answer
The act of donating money for the purpose of promoting the welfare of others.ex. John D. Rockefeller, Andrew Carnegie
question
John D. Rockefeller
answer
A great philanthropist who used his fortune in the oil industry and became an individual monopoly
question
Trans-continental Railroad
answer
A railroad that connected the US from east to west to transport goods
question
Andrew Carnegie's Gospel of Wealth
answer
An article that describes the responsibility of philanthropy by the new upper class of the self-made rich