Chapter 12 Section 3 & 4 Flashcards Preview

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Flashcards in Chapter 12 Section 3 & 4 Deck (56):
1

Big Business would not have been possible without the ___________

Corporations

2

People who own corporations are called

stockholders

3

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

Economies of Scale

4

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

advantages

5

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

Competition

6

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

pools

7

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

Andrew Carnegie

8

Born poor Carnegie eventually opened a ______ business in Pittsburgh.

steel

9

Successful business leaders pushed for.............

Horizontal Integration

10

Who achieved most complete horizontal integration?

John D. Rockefeller

11

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

trust

12

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

holding

13

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

JP Morgan

14

What was the first billion dollar company in America?

US Steel

15

what was the first advertising company?

NWAYER and SON

16

What added to tensions between workers and employers?

Deflation

17

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

craft workers and common laborers

18

What type of workers formed trade unions?

Craft Workers

19

Employers viewed unions as __________

Conspiracies

20

Business leaders particularly opposed

industrial unions

21

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

Yellow-Dog Contract

22

Workers who tried to strike were fired and placed on a

Blacklist

23

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

Lockouts

24

Unions suffered from the perception that they were

Unamerican

25

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

Marxism

26

What railroad cut their wages for a third time

Baltimore and Ohio

27

How many railroad workers striked at one time?

80,000

28

Who opposed strikes preferring to use boycotts?

Knights of Labor

29

Knights of Labor also supported what

Arbitration

30

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

the Haymarket Riot

31

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

Pullman Strike

32

What does (AFL) stand for?

American Federation of Labor

33

Who was the first president of the AFL

Samuel Grompers

34

THE AFL had three main goals..

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

35

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

(IWW) Industrial Workers of the War

36

by 1900 women made up what percent of the workforce?

18

37

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

Mary Harris Jones

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

Jewish and Italian

39

In 1903, Who established the Womens' Trade Union League

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

40

used for making high-quality steel efficiently and cheaply

Bessemer Process

41

Agreements to amintain prices at a certain level

Pools

42

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

Vertical Integration

43

became on of the most successful retail chains in American History

Woolworth's

44

When a single company achieves control of an entire market

Monopoly

45

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

fixed costs

46

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

horizontal integration

47

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

advertising

48

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

Arbitration

49

a rise in the value of money

Deflation

50

First national assciation dedicated to women's labor issues

Women's Trade union League

51

Unions limited to people with specific skills

Trade Unions

52

First nationwide union

Knights of Labor

53

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

Wage Cuts

54

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

politics

55

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

Blacklist

56

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

Marxists.