APUSH CH 17/18 NOTECARDS

Question 1

it emerged as a major force after the civil war. by then business organizations could sell stock to the public

Answer 1

modern corporations

Question 2

limited liability

Answer 2

investors only risked the amount of their investments

Question 3

umbrella of control over production

Answer 3

horizontal integration

Question 4

control over all aspects of production

Answer 4

vertical integration

Question 5

one method of organizing a horizontally integrated monopoly, created by rockefeller

Answer 5

trust

Question 6

social darwinism

Answer 6

only the fittest individuals survive and flourish in the marketplace, those that failed earned their failure

Question 7

gospel of wealth

Answer 7

(1901) work by andrew carnegie, advocated idea that with great wealth comes great responsibility to use riches to advance social progress

Question 8

eastern RRs announced 10% wage cut ==> strike disrupting rail service from Baltimore to St. Louis ==> fed’l troops called out and after over 100 deaths, the strike collapsed.

Answer 8

railroad strike of 1877

Question 9

they championed an 8 hr work day & abolition of child labor and long range economic reform. Declined & disappeared after series of striking failures.

Answer 9

knights of labor

Question 10

association of craft unions representing skilled workers, objectives were wages, hours, and working condition

Answer 10

american federation of labor

Question 11

strikers grouped together at a square, when police tried to disperse all of them, a bomb was thrown killing 7 and injuring 67

Answer 11

haymarket riot

Question 12

scientific managment

Answer 12

employees subdviding tasks to decrease need for highly skilled workers

Question 13

hewitt’s open hearth process & Bessemer and Kelly’s process of turning iron to steel ==> production of large quantities

Answer 13

new steel production methods

Question 14

industries that grew alongside steel production

Answer 14

oil industry and transportation

Question 15

need to lubricate mill machines for steel industry helped it grow

Answer 15

oil industry growth

Question 16

railroads used steel for parts and transported it. iron production soared after 40,000 miles of track were added

Answer 16

railroad growth

Question 17

steam freighters growth steel production only possible in the great lakes region b/c freighters could carry ore on the lakes

Answer 17

steam freighters growth

Question 18

how did railroads have an impact? railroad = creation of time zones, connected eastern trunk line to vanderbilt.

Answer 18

how did railroads have an impact?

Question 19

how did the railroad settle western transmission

Answer 19

it was responsible for settle among great plains, safer + easier to travel there, and linked east to west

Question 20

US v. EC Knight Co

Answer 20

(1985) sherman act applied only to commerce not manufacturing, power to the owners

Question 21

laissez faire capitalism

Answer 21

government stay out, businesses lead by invisible hand and law of supply and demand

Question 22

why’d US become a leading industrial power

Answer 22

natural resources, govt policies protecting businesses, labor saving tech, plentiful capitol, abundant labor force supply ( immigrants), growing population and transport advances ( population could be mobilized )

Question 23

push and pull concept

Answer 23

push: other countries had displaced farmers,, overcrowding + unemployment in Eur, and religious persecution.
pull: US reputation for political/ religious freedom, economic opportunities, abundances of land and jobs