Flashcards in Chapter 14-Industrialization Deck (53):
How did the Civil War effect the economy
US became industrialized making the weapons of war
To leave one to do as they wish economically mean...
Laissez-faire economics promotes
rising gross national product (GNP)
An entrepreneur of the latter 1800s was often called...
a Captain of Industry or Robber Baron
He manipulated the stock market in the years after the Civil War
He was the Robber Baron of Steel production
Carnegie's major steel factory was at...
Free trade and little government interference is the basis of ___ economics
This was to protect American business from foreign competition in the post Civil War years.
Morrill Protective Tariff
Businesses formed ____ to control prices in a market.
Another name for a monopoly is...
Large companies that sold common stock to investors were called...
A huge business can save money easier than a small business due to the ideas of...
economies of scale
These are companies that only own stocks of other companies rather than producing anything themselves. They are called...
Monopolies own all...
means of production for an industry
What are two types of monopolies?
List the two types of costs for all businesses.
____ owns a corporation.
What resources did American possess that led to large industrialization following the Civil War?
What are examples of human resources
What are three natural resources in the US following the Civil War
Who drilled the first successful oil well in the US?
Drake's oil well in Penn.
Who developed the steel making process?
Alexander Graham Bell invented...
Thomas Edison invented...
electric light and tons of other things
What expanded the transportation industry following the Civil War?
Transcontinental railway network
what did the Pacific Railway Act of 1862 provide?
land grants to make a transcontinental railroad system
Who led the Central Pacific Railway Co.
Who led building the Union Pacific Railroad
Who was the owner of the Great Northern Railroad?
Where did the first transcontinental railroad join the Union Pacific and Central Pacific?
Promontory Point, Utah
What did the railroad invent to keep trains on time.
the first time zones.
How did railroads improve the economy?
opening national markets for goods
Whose company made passenger cars?
Pullman Palace Car Co.
How did American businesses reach more customers in the latter 1800s?
list three department stores
Wage cuts, layoffs, harsh working conditions, and deflation all led to the rise of...
value of money increases is called...
List two major labor unions in the latter 1800s.
Knight of Labor (Knights)
American Federation of Labor (AFL)
Leader of the Knights of Labor
leader of the American Federation of Labor
name on labor union for working ladies
Women's Trade Union League
What three category of workers were typically not allowed to join labor unions
list four labor strikes in the latter 1800s
Great Railroad Strike of 1877
What were the typical reaction by employers to union organizers entering their factories?
What three group of radicals sought political answers to the working class problems?
What tool did union organizers try unsuccessfully to use to address their greivances
What tool did more radicals encourage labor unions to use to address their grievances?
What rally became a violent riot where people were killed?
The Haymarket riot resulted when unions tried to strike against the ___.
McCormick Reaper Works in Chicago
Where was the Homestead strike?