Chapter 14-Industrialization Flashcards Preview

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Flashcards in Chapter 14-Industrialization Deck (53):
1

How did the Civil War effect the economy

US became industrialized making the weapons of war

2

To leave one to do as they wish economically mean...

Laissez-faire economics

3

Laissez-faire economics promotes

rising gross national product (GNP)

4

An entrepreneur of the latter 1800s was often called...

a Captain of Industry or Robber Baron

5

He manipulated the stock market in the years after the Civil War

Jay Gould

6

He was the Robber Baron of Steel production

Andrew Canegie

7

Carnegie's major steel factory was at...

Pittsburgh, Penn.

8

Free trade and little government interference is the basis of ___ economics

Laissez-faire economics

9

This was to protect American business from foreign competition in the post Civil War years.

Morrill Protective Tariff

10

Businesses formed ____ to control prices in a market.

pools

11

Another name for a monopoly is...

a trust

12

Large companies that sold common stock to investors were called...

corporations

13

A huge business can save money easier than a small business due to the ideas of...

economies of scale

14

These are companies that only own stocks of other companies rather than producing anything themselves. They are called...

Holding companies

15

Monopolies own all...

means of production for an industry

16

What are two types of monopolies?

Horizontal monopolies
Vertical monopolies

17

List the two types of costs for all businesses.

Fixed costs
Operating costs

18

____ owns a corporation.

stock holders

19

What resources did American possess that led to large industrialization following the Civil War?

Natural resources
Human resources

20

What are examples of human resources

population
immigrants
workers

21

What are three natural resources in the US following the Civil War

Coal
Oil
iron

22

Who drilled the first successful oil well in the US?

Drake's oil well in Penn.

23

Who developed the steel making process?

Bessemer's steel

24

Alexander Graham Bell invented...

telephone

25

Thomas Edison invented...

electric light and tons of other things

26

Otis invented....

safety elevator

27

What expanded the transportation industry following the Civil War?

Transcontinental railway network

28

what did the Pacific Railway Act of 1862 provide?

land grants to make a transcontinental railroad system

29

Who led the Central Pacific Railway Co.

Judah

30

Who led building the Union Pacific Railroad

Grennville Dodge

31

Who was the owner of the Great Northern Railroad?

Hill

32

Where did the first transcontinental railroad join the Union Pacific and Central Pacific?

Promontory Point, Utah

33

What did the railroad invent to keep trains on time.

the first time zones.

34

How did railroads improve the economy?

Building them
opening national markets for goods

35

Whose company made passenger cars?

Pullman Palace Car Co.

36

How did American businesses reach more customers in the latter 1800s?

department stores

37

list three department stores

Woolworths
Sears/Reubuck
Montgomery Wards

38

Wage cuts, layoffs, harsh working conditions, and deflation all led to the rise of...

Labor unions

39

value of money increases is called...

deflation

40

List two major labor unions in the latter 1800s.

Knight of Labor (Knights)
American Federation of Labor (AFL)

41

Leader of the Knights of Labor

Terrance Powderly

42

leader of the American Federation of Labor

Samuel Gompers

43

name on labor union for working ladies

Women's Trade Union League

44

What three category of workers were typically not allowed to join labor unions

women
children
African Americans

45

list four labor strikes in the latter 1800s

Pullman strike
Great Railroad Strike of 1877
Haymarket Riot
Homestead Strike

46

What were the typical reaction by employers to union organizers entering their factories?

strikebreakers
blacklists
lockouts

47

What three group of radicals sought political answers to the working class problems?

Anarchists
Marxists
Communists

48

What tool did union organizers try unsuccessfully to use to address their greivances

Arbitration

49

What tool did more radicals encourage labor unions to use to address their grievances?

strikes

50

What rally became a violent riot where people were killed?

Haymarket

51

The Haymarket riot resulted when unions tried to strike against the ___.

McCormick Reaper Works in Chicago

52

Where was the Homestead strike?

Pittsburgh, Penn

53

How did President Hayes respond to the Great Railway Strike of 1877?

Sent in the military on the side of the railway owners saying the strike interfered with the federal mail