Flashcards About us history chapter 13
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steel changed peoples lives by making possible the
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construction of skyscrapers
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cartels, monopolies, trusts, and horizontal and veritcal integration all share the goal of
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increasing profits
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capitalism fueled industrialization by
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encouraging entrepreneurs to establish businesses
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as farms became mechanized
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farmers moved to urban areas
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the Sherman Antitrust Act imposed limitations upon which group?
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large corporations
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which labor leader began the American Federation of Labor
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Samuel Gompers
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in which system does one company control the businesses that make up all phases of a products development
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vertical integration
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the ICC was formed to
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oversee railroad operations
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Horizontal integration differs from vertical integration in that it
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consolidates many firms involoved in the same business into one giant company
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which of the following limited membership to skilled craftspeople and focussed on economic reforms
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American Federation of Labor
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in the late 1800's industrial workers
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faced low wages and long hours in unsafe working conditions
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which labor organization was founded first
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Knights of Labor
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a system for turning out large number of products quickly and inexpensively
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mass production
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a person who inveests money in a business venture to make a profit
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entrepreneur
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complete control of a product or service
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monoply
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an oil tycoon who used horizontal integration to decrease costs and increase profits
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John D Rockefeller
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a busines in which ownership is shared
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corporation
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a small, hot, dirty workhouse
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sweatshop
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the response to wage cuts at a carnegie Steel plant in 1892
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Homestead Strike
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the inventor who wanted to develop affordable lighting for homes
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Thomas Edison
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a labor union open to workers from any trade
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Knights of Labor
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a steel tycoon who used vertical integration to increase profits
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Andrew Carnegie
