Ch. 10 Flashcards
travois
a sled pulled by a dog or a horse
dividends
share of a corporation’s profit
triangle fire
fire in 1911 at the triangle shirtwaist factory that killed nearly 150 people
jerky
dried meat
who invented the moving assembly line
henry ford
first american corporation to be worth $1 billion
US steel company
when did airplanes become widely used
during/after world war 1- useful because they could be used to see the enemy location, they could travel 40 mph, and could drop bomb on enemy positions
john d. rockefeller
bought up oil refineries, slashed prices to eliminate competition, and utilized supply and demand to increase sales
wounded knee creek
shot mistakenly fired, led to people shooting at each other
andrew carnegie
controlled the steel industry by buying out rivals, buying iron mines, railroads, steamline ships, and warehouses- gave millions to charities because he believed in the “gospel of wealth”
j.p. morgan’s industry
US steel company
tepee
tents made by stretching buffalo skin on tall poles
where was sitting bull killed
wounded knee creek
supply and demand
an economic theory in which the price of a resource is determined by the availability of the resource and the demand for it
haymarket riot
labor rally in chicago that ended in violence when a bomb exploded
4 examples of what bulls were used for
food
shelter
clothing
tools
wright brothers
orville and wilbur wright flew the first plane which flew 150 feet in 12 seconds
anarchists
people who oppose all forms of organized government
where did sitting bull get killed
wounded knee creek
andrew carnegie’s company
carnegie steel
strikebreaker
replacements for striking workers
reservation
a limited area of land set aside for native americans
who bought who’s company and what were the names of the companies
j.p. morgan bout andrew carnegie’s industry- carnegie steel became the US steel company
afl (american federation of labor )
organization of trade unions that represented skilled workers
sherman antitrust act
a law that banned the formation of trusts and monopolies of the US
trade union
a union of persons working in the same trade
battle of little bighorn
battle where 225 soldiers from the 7th calvary where col. george a. custer were killed by indians led by sitting bull and crazy horse
corral
enclosure
corporation
business owned by investors
fort laramie treaty
native americans had to stay in one place in exchange for gov. protection and aid
who created the standard oil company
john d. rockefeller
3 captains of industry
andrew carnegie- carnegie steel industry
j.p. morgan- US steel industry
john d. rockefeller- standard oil company
thomas edison
built a research lab in ny, invented the light bulb, phonograph, first electric power plant, and moving pictures and short movies
bessemer process
william kelly and henry bessemer discovered a new way to make steel, it enabled the production of steel at a low cost; railroads replaced iron with steel
why were trusts good and why were they bad
they were good because they could compete by selling the best products at the lowest prices and the wages increased; they were bad because they eliminated competition and hurt smaller businesses
what did capitalism own and what did this allow companies to do
private citizens with a free market; to sell and buy goods as needed
vertical integration
gaining control of all the steps used to change raw materials into finished products
another creek where 150 innocent people were killed
sound creek massacre
sweatshops
workplace where people labor long hours in poor conditions for poor pay
ilgwu (international ladies’ garments workers union)
union of garment workers
trust
a group of corporations run by a single board of directors
where did the first airplane fly
kitty hawk, north carolina
what happened on the plains with the buffalo and who did this hurt and why
buffalo were killed by buffalo hunters, this hurt the plains’ indians because they used the buffalo for a lot of things
alexander graham bell
invented the phone
when did planes first catch on
after world war II
scarcity
a state of limited sources
standard oil company
company created by john d. rockefeller, it was a monopoly that controlled 95% of america’s oil company
moving assembly line
greatly reduced time to make an automobile and mass production of cars and other products started soon after
capitalism
business owned by private citizens
collective bargaining
the right of unions to negotiate with management for workers as a group
j.p. morgan
used banking skills to make high profits to control corporations, bought up troubled corporation and reduced competition
monopoly
a company or group having control over all or nearly all of the business in an industry
knights of labor
american labor organization to protect the rights of workers
stock
partial ownership of the company
dawes act
gave land to native americans by dividing reservations for farming to adopt to white customs; land was not good for farming so the native americans sold the land to white settlers
