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Flashcard maker : Lily Taylor
Jp morgan industry
Banking
Andrew carnegie industry
Steel
John D. Rockefeller industry
Oil
Cornelius Vanderbilt industry
Railroads
Sherman antitrust act of 1893 became a law in response to
Demands of farmers to end rate fixing by railroads
Major result of the industrial revolution in the us
A movement of people to cities
Inventions that are part of the industrial revolution
Spinning Jenny, cotton gin, power loom
Businesses formed trusts and monopolies during the late 19th century to
Eliminate competition
What development during the 19th century caused Samuel Gompers to speak out for American labor
Industrialization
What is John d Rockefeller called
A robber baron
process of collective bargaining
Discussions between labor union leaders and management to agree on a contract for workers
What factor was a major cause of the farm problem
Overproduction of these farm crops
When was there a dramatic increase in the number of businesses
The period after the civil war
Sub title for this unit
Causes of u.s industrialzation
The economic system of the U.S. In the late 1800s can best be described as
Capitalism
The term robber barons is used to describe many industrialists of the late 19th century mainly because they
Sought to maximize their profits by eliminating competition and exploiting workers
A major complaint of western farmers in the late 19th century concerned the
Power of banks and railroads over the farm economy
What was a result of the laissez faire economic policies followed by the federal gov between the civil war and 1900
Entrepreneurs created trusts and monopolies to maintain control of the market
During the period 1865-1900, gov contributed to the growth of corporations mainly by
Allowing hem to develop with few restrictions
Businesses formed trusts and monopolies during the 19th century mainly to
Eliminate competition
Laissez faire
“Hands off” economic theory that opposed gov intervention in business of airs
Network
An interconnected system of people, or things, businesses togeyher
Pool
A group sharing in some activity
Vertical growth
Lower cost per unit keep price constant with a higher profit
Horizontal growth
Combining competing companies into one corporation
Rebate
To literature and the arts that shows things as they really are
Corporation
Company that sells shares, or stock, of its business to the public
Stock
Part ownership customers bought from corporations
Dividend
A stockholder
Trust
A combination of firms or corporations formed by a legal agreement
Monopoly
Big corporations that were too powerful to be controlled
Assembly line
System with machines and workers arranged so that each person performs on this dined task again and again as items pass
Capitalism
The economic system of the us, means individuals put their capital, or money, into a business hoping that the business will be successful and make a profit
Free enterprise
Term used to describe the American economy, in a free enterprise economy people are free to buy sell produce whatever they want, they can also work wherever they wish
Definition of American industrialization
A time period in our history when products went from being handmade (labor intensive) to making products by machines in factories (mass production)
Corporation
A company that sells shares, or stock, of its business to the public
Stock
Part ownership costumes by from corporations
Mass production
the production of large quantities, often an assembally line
Assembly line
A system with machines and workers arranged so that each person performs an assigned task again and again as items pass
Limited liability
If someone has limited liability it means that he or she is not personally responsible for business debts and obligations of the corporation. If the the corporation is sued the stockholders r not the ones at risk of their personal belongings
Vertical growth (integration)
Lower cost to produce a product, keep the price constant= profits go up
Horizontal growth (integration)
Reduce completion, merge similar businesses, create a monopoly (which is illegal), raise prices, force out competition
Bessemer process
A way to mass produce steel, need coal and iron
Department of agriculture
A presidential cabinet seat (federal agency) spread tech in farming
What were the goals of the department of agriculture
Develop healthier seeds, develop heartier livestock (animals), research and development (seedless fruit), spread tech in farming
Write down the organization of a corporation chart
Write down the organization of a corporation chart
Who has the ultimate say in a corporation
Stockholders
Morill act
Passed by congress to provide money to states to build and grant colleges
County agents
Work for department of agriculture spread technology in farming
George Westinghouse industry
Safety Railroads
George Pullman industry
Railroads
Who invented the telephone
Alexander g bell
Alexander g bell industry
Production of sound
Henry ford industry
Automobiles
Tomas Edison industry
Inventor
Who invented the light bulb
Tomas edison
Who was the owner of standard oil
John d rocketfeller
Iron goes with
Andrew carnegie
Who invented the first inexpensive car
Henry ford
Knights of labor
One of the first real unions in America, formed which later becomes the American federation of labor
Who was the leader of the Knights of labor
Sam Gompers
Laissez faire
Gov policy where there is little gov involvement in the affairs of business (I.e taxes regulation) * favored by business owners not consumers
Widjet
Imaginary product for business
Dynamo
Turns the power of motion into electricity
Population got bigger so
Needed to put new technology into farming

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