Chapter 12 Section 3 & 4

Question 1

Big Business would not have been possible without the ___________

Answer 1

Corporations

Question 2

People who own corporations are called

Answer 2

stockholders

Question 3

Investing in new technologies, hiring large workforces, and puchasing many machines enabled corporations to achieve

Answer 3

Economies of Scale

Question 4

Big Businesses had high fixed cost and low operating costs, which gave them several ___________

Answer 4

advantages

Question 5

Many companies did not like the intesnse _________ that had been forced upon them

Answer 5

Competition

Question 6

to stop prices from falling…many companies organized ___________ to keep prices at a certain level

Answer 6

pools

Question 7

The life of ___________ illustrated many factors that led to the rise of big business in the U.S.

Answer 7

Andrew Carnegie

Question 8

Born poor Carnegie eventually opened a ______ business in Pittsburgh.

Answer 8

steel

Question 9

Successful business leaders pushed for………….

Answer 9

Horizontal Integration

Question 10

Who achieved most complete horizontal integration?

Answer 10

John D. Rockefeller

Question 11

IN 1882, Standard Oil formed the first ________, a new way of merging businesses that did not violate laws against monopolies.

Answer 11

trust

Question 12

Many companies immeditely used the law to create a new organization, a ________ company

Answer 12

holding

Question 13

One of the most successful investment banker of the era was…….

Answer 13

JP Morgan

Question 14

What was the first billion dollar company in America?

Answer 14

US Steel

Question 15

what was the first advertising company?

Answer 15

NWAYER and SON

Question 16

What added to tensions between workers and employers?

Answer 16

Deflation

Question 17

What were the two basic types of industrial workers in the 1800s?

Answer 17

craft workers and common laborers

Question 18

What type of workers formed trade unions?

Answer 18

Craft Workers

Question 19

Employers viewed unions as __________

Answer 19

Conspiracies

Question 20

Business leaders particularly opposed

Answer 20

industrial unions

Question 21

What is a contract called that says you will never join a union while working for this company?

Answer 21

Yellow-Dog Contract

Question 22

Workers who tried to strike were fired and placed on a

Answer 22

Blacklist

Question 23

When workers formed a union, companies used what to break them>

Answer 23

Lockouts

Question 24

Unions suffered from the perception that they were

Answer 24

Unamerican

Question 25

in the 1800's the ideas of Karl Marx, known as _________ became very influential..

Answer 25

Marxism

Question 26

What railroad cut their wages for a third time

Answer 26

Baltimore and Ohio

Question 27

How many railroad workers striked at one time?

Answer 27

80,000

Question 28

Who opposed strikes preferring to use boycotts?

Answer 28

Knights of Labor

Question 29

Knights of Labor also supported what

Answer 29

Arbitration

Question 30

in the spring of 1886 what happend that undermined the reputation of the knights?

Answer 30

the Haymarket Riot

Question 31

under what strike did a federal court issue an injuntion, directing the union to halt the boycott

Answer 31

Pullman Strike

Question 32

What does (AFL) stand for?

Answer 32

American Federation of Labor

Question 33

Who was the first president of the AFL

Answer 33

Samuel Grompers

Question 34

THE AFL had three main goals..

Answer 34

1 Push for closed shop 2. promoted 8 hour work day 3. tried to convince companies to recognize unions and agree to collective bargaining.

Question 35

In 1905, a group of labor radicals created the what?

Answer 35

(IWW) Industrial Workers of the War

Question 36

by 1900 women made up what percent of the workforce?

Answer 36

18

Question 37

One of the most famous labor leaders of the era was....

Answer 37

Mary Harris Jones

Question 38

In 1900 what two types of immigrants worked in the clothing business in New York City and founded the International Ladies' Garment Workers Union

Answer 38

Jewish and Italian

Question 39

In 1903, Who established the Womens' Trade Union League

Answer 39

Mary Kenney O'Sullivan, Leonora O'Reilly, Jane Adams, and Lillian Wald

Question 40

used for making high-quality steel efficiently and cheaply

Answer 40

Bessemer Process

Question 41

Agreements to amintain prices at a certain level

Answer 41

Pools

Question 42

When a company owns all of the different businesses on which id depends for for its operation

Answer 42

Vertical Integration

Question 43

became on of the most successful retail chains in American History

Answer 43

Woolworth's

Question 44

When a single company achieves control of an entire market

Answer 44

Monopoly

Question 45

Loans, Mortgages, and taxes are examples of a companys...

Answer 45

fixed costs

Question 46

Combining many firms engaged in the same type of business into one corporation is called

Answer 46

horizontal integration

Question 47

N.W. Ayer and Son developed bold new formats for what.

Answer 47

advertising

Question 48

Process whereby an impartial third party helps workers and management reach an agreement

Answer 48

Arbitration

Question 49

a rise in the value of money

Answer 49

Deflation

Question 50

First national assciation dedicated to women's labor issues

Answer 50

Women's Trade union League

Question 51

Unions limited to people with specific skills

Answer 51

Trade Unions

Question 52

First nationwide union

Answer 52

Knights of Labor

Question 53

What did several railroads announce in July of 1877 that Triggered the first nationwidelabor protest?

Answer 53

Wage Cuts

Question 54

The first leader of the American Federation of Labor, Samuel Grompers, believed that unions should stay out of

Answer 54

politics

Question 55

Workers who tried to organize a union or strike were often fired and placed on a list called the

Answer 55

Blacklist

Question 56

Who claimed that after a worker's revolution, the government would seize all prive property and create a socialist society>

Answer 56

Marxists.