ch 4

Question 1

a system for turning out large numbers of products quickly and inexpensively

Answer 1

mass production

Question 2

a person who invests money in a buisness venture to make profit

Answer 2

entrepreneur

Question 3

complete control of a product or service

Answer 3

monopoly

Question 4

an oil tycoon who used horizontal integration to decrease costs and increase profits

Answer 4

John D. Rockafeller

Question 5

a buisness in which ownership is shared

Answer 5

corperation

Question 6

a small hot dirty workhouse

Answer 6

sweatshop

Question 7

the response to wage cuts at a carnegie steel plant in 1892

Answer 7

homestead strike

Question 8

the inventor who wanted to develope affordable lighting for homes

Answer 8

thomas edison

Question 9

a labor union open to workers from any trade

Answer 9

knights of labor

Question 10

a steel tycoon who used veritcal integration to increase profits

Answer 10

Andrew carnegrie

Question 11

helped fuel economic growth by encouraging people to buy american goods

Answer 11

protective tariff

Question 12

steel changed peoples lives by

Answer 12

skyscraper

Question 13

a cartel differs from a monopoly in that

Answer 13

buisnesses agree to limit production

Question 14

cartels monopolies trusts and horizontal and vertical integration all share a goal of

Answer 14

profits

Question 15

capitalism fueled industrialization by

Answer 15

encouraging entrepreneurs to start a new buisness

Question 16

which innovation extended the number of hours in a day that american could work and play

Answer 16

electricity

Question 17

which industry most spurred economic growth and innovation in related industries

Answer 17

railroads

Question 18

as farms became mechanized

Answer 18

farmers moved to urban areas to work at factories

Question 19

corperations had the advantage of

Answer 19

reducting risk of individual envestors and limited liability

Question 20

in the late 1800s workers tolerated poor wages and working conditions because they

Answer 20

could be easily replaced

Question 21

what was one effect of the events in haymarket square

Answer 21

decline of knights of labor/ americans turned against unions

Question 22

which labor leader began the american federation of labor

Answer 22

samual gompers

Question 23

how did the federal government support employers during time sof labor unrest

Answer 23

denied unions recongnition as legally protected groups

Question 24

in what field did signifigant technological innovation occer in the late 1800s

Answer 24

transportation and communications

Question 25

in which system does one company control the buisnesses that make up all phases of a products development

Answer 25

vertical integration

Question 26

which argument supports the perception of big buisness leaders as “captains of industry”

Answer 26

buisness support for technology benifited the nation

Question 27

the icc was formed to

Answer 27

oversee railroad operations

Question 28

horizontal integration differs from vertical integration in that it

Answer 28

consolidates many firms in the same buisness

Question 29

the federal government formed the interstate commerce commission to oversee

Answer 29

railroads

Question 30

which of the following limited membership to skilled craftspeople and forcused on economic reforms

Answer 30

american federation of labor

Question 31

which event resulted in the execution of four anarchists and the decline of the knights of labor

Answer 31

haymarket riot

Question 32

in the late 1800s industrial workers

Answer 32

suffered low wages and long hours in unsafe conditions