806 Quiz 2 - Changing Frontiers Flashcards
Alexander Graham Bell
invented the telephone
Cornelius Vanderbilt
used dishonest methods to create a railroad monopoly
Edwin Drake
built the first oil well in the US
Henry Bessemer
better steel making processes
Henry Ford
popularized the assembly line
John D. Rockefeller
created a huge oil monopoly
J.P. Morgan
created the greatest steel monopoly of his time
Thomas Edison
well known for inventing the lightbulb and phonograph
Proprietor
Owner of a business that takes all profits and losses
Stockholder
A person who owns part of a business but risks only the money he invested
Partnership
business owned by two or more people (share all profit and loss)
Dividends
percent of profits a company gives to its stockholders
Stocks
shares in a business
Corporation
company that sells shares to investors
Company that sells shares to investors
Corporation
Percentage of profits a business gives its stockholders
Dividends
A business owned by two or more people who share all profit and loss
Partnership
Owner of a business who takes all profit and loss
Proprietor
Shares of a business
stocks
a person who owns part of a business but risks only the money he invested
Stockholder
Who invented the telphone
Alexander Graham Bell
Who formed a large railroad monopoly by using dishonest methods?
Cornelius Vanderbuilt
Who built the first oil well in the US
Edwin Drake
Who designed a better process for making steel?
Henry Bessemer
Who made the assembly line more poplar
Henry Ford
Who formed an oil monoploy
John D. Rockefeller
Who formed the largest steel monopoly of his time?
J.P. Morgan
Who invented the lightbulb and phonograph
Thomas Edison
What are three components of mass production?
interchangeable parts, division of labor, assembly line
Three parts of the economic cycle that occurred in the United States in the late 1800’s early 1900s (in order)
Boom, panic, depression
Stores that combine under one management are called?
Chain Store
A store that has different departments in it (outdoor, groceries, etc)?
Department Store
A company that controls other businesses by owning a majority of the stock…
Holding company
A group of business that set low prices to force other companies out of business…(now illegal)
Trusts
A company that is the only supplier of a product in a given area is called what?
Monopoly
Labor Unions were formed for?
combatting unsafe working conditions, increase wages, decrease working hours per day
Formed large groups to force employers to pay attention to their claims…
Labor Unions
