Industrialization Unit Chapter 6 - Review Flashcards

(30 cards)

1
Q

The time period of economic, industrial, population, and creative growth that made the USA to become a stable country

A

Industrialization Revolution

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2
Q

Idea that Andrew Carnegie believed the wealthy had an obligation to use their money to benefit society

A

Gospel of wealth

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3
Q

A corporation becomes so successful by eliminating all its competition and has complete control over a certain product or service

A

Monopoly/trust

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4
Q

The labor union founded by S. Gomper and focused to get better wages, hours, and working conditions for its skilled workers

A

American Federation of Labor

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5
Q

What are the dark, dirty, hot, and crowded workplaces?

A

Sweetshops

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6
Q

The system that factories used to create lots of stuff at low prices, which helped our economy grow

A

Mass production

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7
Q

The integration involves buying up your competition to create a giant company. And it lowered production costs

A

Horizontal integration

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8
Q

The idea that if you are successful you are a better person than those who are not

A

Social Darwinism

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9
Q

People that invest in another’s product or business with the expectation of making profits

A

Entrepreneur

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10
Q

People that fund public cultural and educational facilities, and charities to help the less fortunate

A

Philanthropy

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11
Q

Type of society where everyone shares equally in resources and rewards, and no one owns any property or income of their own

A

Socialism

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12
Q

Shrewd businessmen who sometimes squeezed out their competition using unfair practices

A

Robber barons

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13
Q

The act that eventually led to the break up of many monopolies

A

Sherman Antitrust Act

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14
Q

The first labor union created to help all workers of any trade, focused on broad social reforms, but its membership disappeared after an ugly incident in Haymarket Square, Chicago

A

Knights of Labor

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15
Q

The new type of bridge built with the new cables made of steel

A

Suspension bridges

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16
Q

This allowed businesses in America to grow and develop with little interference from government regulations

A

Laissez faire policies

17
Q

A way to improve on a product, rather than creating something new

18
Q

The incident of violence that led to the disappearance of the Knights of Labor

A

Haymarket Riot

19
Q

The type of integration that helps a company keep its costs down by owning all steps in the chain of production

A

Vertical integration

20
Q

The term of starting with little money or resources, but rising above and working hard to achieve success and wealth

A

Rags to riches

21
Q

A business with multiple owners

22
Q

The process of purifying iron to make stronger, lighter steel

A

Bessemer process

23
Q

What was the industry regulated by the Interstate Commerce Commission, because it was fixing rates and creating secret agreements

A

Railroad industry

24
Q

What are the shares in a company called

25
The tactic developed to help groups of workers assert their power with their bosses or company owners
Collective bargaining
26
What are protective tariffs and how it relates to industrialization
They are taxes that raise the prices of imported goods; to make American products more attractive to consumers.
27
Shrewd businessman responsible for new business practices and many jobs, who used his wealth to help society
Captains of industry
28
What is a labor union
term for organized labor groups
29
The 4-year event that led America into a period of growth because of its demands
Civil War
30
What helps ensure safety, efficiency, and uniformity in transportation
Time zones