Lesson 13-14 Flashcards
The economic system where assets are privately owned rather than goverment controlled is known as (43 cards)
The economic system where assets are privately owned rather than government controlled
Capitalism
What invention by Samuel Morse revolutionized long-distance communication
Telegraph
What American inventor was responsible for the creation of the telephone?
Alexander Graham Bell
How did financial backers protect their investments in inventions?
They encouraged inventors to acquire patents
What natural resource took on a rapidly growing role in the industrial age?
Oil
a company thag completley dominates a particular industry
monopoly
How did John D. Rockefeller’s Standard Oil grow to become a monopoly?
It expanded by buying out and merging with other companies.
How did John D. Rockefeller’s Standard Oil grow to become a monopoly?
joining together as many firms from the same industry as possible
Which of the following best describes the process of vertical integration?
taking control of each step in product production and distribution
Why did the Sherman Antitrust Act initially fail to reduce the influence of big businesses?
Vague language led to weak government enforcement.
Why were the late-1800s often referred to as the Gilded Age?
Some industrialists grew wealthy despite a great deal of political unrest.
What happened in California in 1848 that resulted in a population boom for the territory?
discovery of gold in rivers
What served as a valuable resource for Great Plains ranchers?
Grass
The “Big Four” sought government support to construct what?
Transcontinental railroad
Those who persuade legislators to pass laws favorable to the groups they represent are?
Lobbyist
What group made up the majority of the Central Pacific’s workforce?
Chinese immigrants
Why did many consumers ask for government control over railroad companies?
Railroads charged excessive rates to those reliant on them for supplies.
What do some historians say Indigenous people believed about land rights?
They believed that land could not be bought, owned or sold.
What did the federal government do hoping to end conflict between Indigenous people and colonists?
It confined most western tribes to reservations
What event led to the hunting down of Lakota (Sioux) warriors by federal troops?
Battle of the Little Bighorn
What did the Homestead Act offer American colonists in the west?
land to work and live on
What political ideology arose from discontented western farmers?
Populism
example of a “Granger law”?
Interstate Commerce Act
Those who advocated inflationary monetary policy became known as
Silverites