U7 L4 United States: Industrial Progress (PART 2)

Question 1

What did Edwin L. Drake first drill? And Where?

Answer 1

nation’s first oil well, Titusville, Pennsylvania

Question 2

What was Drake’s oil well sarcastically labelled?

Answer 2

Drake’s Folly

Question 3

What is another term for oil?

Answer 3

black gold

Question 4

What was Oil first used for?

Answer 4

• make machine parts run smoothly

- light kerosene lamps

Question 5

In many factories, fuel oil refined from crude oil was used instead of coal to do what?

Answer 5

produce steam

Question 6

What was another crude oil product that was used in the internal combustion engine?

Answer 6

gasoline

Question 7

What did Thomas A. Edison create?

Answer 7

light bulb/lamp

Question 8

How long did Thomas Edison’s bulb glow?

Answer 8

40 hours

Question 9

What was the advantage of electricity?

Answer 9

• quick energy source

- could operate communication systems and manufacturing equipment

Question 10

What was the ‘horseless carriage’?

Answer 10

motor car

Question 11

Who were significant persons who designed automobiles?

Answer 11

• Charles and Frank Duryea
• Ransom E. Olds
• Henry FOrd

Question 12

When was the internal combustion engine developed?

Answer 12

1860s

Question 13

What did Henry Ford design?

Answer 13

Model T

Question 14

What did Wilbur and Orville Wright first do?

Answer 14

fly the first successful aircraft

Question 15

in 1908, who did the Wright brothers sell an airplane to?

Answer 15

US army

Question 16

What were the benefits of the airplane?

Answer 16

• faster distribution
• made almost all regions accessible
• air travel for business of pleasure

Question 17

What were the different types of delivery that were developed?

Answer 17

• City mail delivery
• Special delivery
• rural free delivery

Question 18

What did Cyrus W. Field make?

Answer 18

transatlantic cable

Question 19

From where did Cyrus Field’s transatlantic cable stretch?

Answer 19

Newfoundland, Canada to England

Question 20

Where did the first transatlantic line lay on?

Answer 20

Atlantic Ocean

Question 21

Who received the very first telephone message on wire?

Answer 21

Thomas Watson, Alexander Graham Bell’s assistant

Question 22

Was the public at first skeptical about Bell’s telephone?

Answer 22

yes

Question 23

What company was charted in 1880 and has become a communications company?

Answer 23

American Bell Telephone company

Question 24

What were the inventions that benefitted the modern business office?

Answer 24

• typewriter
• cash register
• adding machine

Question 25

How did the corporation system work?

Answer 25

- businessmen combine their capital - submit request to govt asking permission to establish org - investors who bought into org receive stock

Question 26

Who elects the directors in a corporation system?

Answer 26

stockholders

Question 27

What do the directors appoint in a corporation system?

Answer 27

company officials to set corporate policies

Question 28

In a corporation system, what happens when the corporation earns profit?

Answer 28

stockholders receive share of profit

Question 29

In a corporation system, what happens when a corporation failed to make a profit?

Answer 29

stockholders still own shares but do not gain profit

Question 30

Much of the capital that went into building large corporations came from what businesses prior to the Civil war?

Answer 30

shipping and trade

Question 31

What were the reasons for Corporations to merge?

Answer 31

- competing groups made same products | - convenient to merge with closely related industries

Question 32

In which industries did merging often occur?

Answer 32

steel, expanding to coal fields, transportation, and blast furnaces

Question 33

Corporations became powerful largely through their use of what?

Answer 33

- modern machines | - streamlined production methods

Question 34

How did expanding corporations sought to reduce competition and gain control?

Answer 34

building monopolies

Question 35

What is a monopoly?

Answer 35

exclusive control of a commodity/production by a business

Question 36

What was the benefit of eliminating competition?

Answer 36

- profits increase - sell goods at higher prices - larger market

Question 37

By 1905, 11% of the business firms controlled more than () of the capital, () of the laborers, and produced () of the manufactured goods

Answer 37

C- 80 L- 72 M- 79

Question 38

Edward Harriman, William Vanderbilt, and James Hill became industrial tycoons in which industry?

Answer 38

railroad

Question 39

John Rockefeller gained fortune by controlling most of which industry?

Answer 39

oil

Question 40

Andrew Carnegie made millions by dominating which industry?

Answer 40

steel

Question 41

What is J.P. Morgan noted for?

Answer 41

banking acheivements

Question 42

What did Theodore Roosevelt enforce?

Answer 42

- antitrust laws against corp | - suspected of charging high prices or selling low-quality goods to remove competition

Question 43

What Act did President Wilson support?

Answer 43

Clayton Antitrust Act of 1914

Question 44

What did the Clayton Antitrust Act do?

Answer 44

made certain methods used by businesses to remove competition illegal

Question 45

What was the Federal Trade Commission?

Answer 45

- 5 men appointed by president - enforced antitrust laws - protect small businesses

Question 46

Why were Labor laws enforced?

Answer 46

prevent powerful firms from controlling employee: - working conditions - living conditions

Question 47

What are the benefits of Corporations?

Answer 47

- increased employment/decreased unemployment - more production - lower prices - variety and better quality products