Lesson 13-14 Flashcards

The economic system where assets are privately owned rather than goverment controlled is known as (43 cards)

1
Q

The economic system where assets are privately owned rather than government controlled

A

Capitalism

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2
Q

What invention by Samuel Morse revolutionized long-distance communication

A

Telegraph

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3
Q

What American inventor was responsible for the creation of the telephone?

A

Alexander Graham Bell

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4
Q

How did financial backers protect their investments in inventions?

A

They encouraged inventors to acquire patents

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5
Q

What natural resource took on a rapidly growing role in the industrial age?

A

Oil

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6
Q

a company thag completley dominates a particular industry

A

monopoly

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7
Q

How did John D. Rockefeller’s Standard Oil grow to become a monopoly?

A

It expanded by buying out and merging with other companies.

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8
Q

How did John D. Rockefeller’s Standard Oil grow to become a monopoly?

A

joining together as many firms from the same industry as possible

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9
Q

Which of the following best describes the process of vertical integration?

A

taking control of each step in product production and distribution

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10
Q

Why did the Sherman Antitrust Act initially fail to reduce the influence of big businesses?

A

Vague language led to weak government enforcement.

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11
Q

Why were the late-1800s often referred to as the Gilded Age?

A

Some industrialists grew wealthy despite a great deal of political unrest.

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12
Q

What happened in California in 1848 that resulted in a population boom for the territory?

A

discovery of gold in rivers

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13
Q

What served as a valuable resource for Great Plains ranchers?

A

Grass

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14
Q

The “Big Four” sought government support to construct what?

A

Transcontinental railroad

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15
Q

Those who persuade legislators to pass laws favorable to the groups they represent are?

A

Lobbyist

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16
Q

What group made up the majority of the Central Pacific’s workforce?

A

Chinese immigrants

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17
Q

Why did many consumers ask for government control over railroad companies?

A

Railroads charged excessive rates to those reliant on them for supplies.

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18
Q

What do some historians say Indigenous people believed about land rights?

A

They believed that land could not be bought, owned or sold.

19
Q

What did the federal government do hoping to end conflict between Indigenous people and colonists?

A

It confined most western tribes to reservations

20
Q

What event led to the hunting down of Lakota (Sioux) warriors by federal troops?

A

Battle of the Little Bighorn

21
Q

What did the Homestead Act offer American colonists in the west?

A

land to work and live on

22
Q

What political ideology arose from discontented western farmers?

23
Q

example of a “Granger law”?

A

Interstate Commerce Act

24
Q

Those who advocated inflationary monetary policy became known as

25
Government control of the supply and value of a country's currency is called
Monetary policy
26
What was the traditional monetary policy maligned by populist politicians?
Gold standard
27
Which presidential candidate declared, "You shall not crucify mankind on a cross of gold"?
William Jennings Bryan
28
the absorption of people into the dominant culture
Assimilation
29
the cattle-drive trail from San Antonio, Texas, to Abilene, Kansas
Chisholm Trail
30
an 1887 federal law distributing land to Indigenous individuals rather than to tribes, thereby encouraging Indigenous people to become assimilated
Dawes act
31
African Americans who migrated from the South to the Great Plains following the Civil War
Exodusters
32
an 1862 federal law that granted tracts of land called homesteads to western settlers who agreed to work the land and live on it for five years
Homestead act
33
a monetary policy requiring that every paper dollar in circulation be backed by a dollar's worth of gold in the U.S. Treasury
Gold standard
34
a person who tries to persuade legislators to pass laws favorable to a particular group
Lobbyist
35
a political philosophy that favors the common person's interests over those of wealthy people or business interests
Populism
36
government policy aimed at controlling the supply and value of a country’s currency
monetary policy
37
political party founded in 1892 calling for policies to help working people, such as government ownership of railroads and coinage of silver
Populist Party
38
any financial asset-including money, machines, and buildings-used in production
Capital
39
an economic system in which factories, equipment, and other means of production are privately owned rather than controlled by government
Capitalism
40
a company recognized by law to exist independently from its owners, with the ability to own property, borrow money, sue, or be sued
Corporations
41
an 1890 federal law that outlawed trusts, monopolies, and other forms of business that restricted trade
Sherman Antitrust Act
42
What is horizontal and who uses it?
John D rockerfeller and he was the most powerful in the oil industry
43
What is vertical and who uses it
Carnegie because he bought all the steps out