ch 4 Flashcards
a system for turning out large numbers of products quickly and inexpensively
mass production
a person who invests money in a buisness venture to make profit
entrepreneur
complete control of a product or service
monopoly
an oil tycoon who used horizontal integration to decrease costs and increase profits
John D. Rockafeller
a buisness in which ownership is shared
corperation
a small hot dirty workhouse
sweatshop
the response to wage cuts at a carnegie steel plant in 1892
homestead strike
the inventor who wanted to develope affordable lighting for homes
thomas edison
a labor union open to workers from any trade
knights of labor
a steel tycoon who used veritcal integration to increase profits
Andrew carnegrie
helped fuel economic growth by encouraging people to buy american goods
protective tariff
steel changed peoples lives by
skyscraper
a cartel differs from a monopoly in that
buisnesses agree to limit production
cartels monopolies trusts and horizontal and vertical integration all share a goal of
profits
capitalism fueled industrialization by
encouraging entrepreneurs to start a new buisness
which innovation extended the number of hours in a day that american could work and play
electricity
which industry most spurred economic growth and innovation in related industries
railroads
as farms became mechanized
farmers moved to urban areas to work at factories
corperations had the advantage of
reducting risk of individual envestors and limited liability
in the late 1800s workers tolerated poor wages and working conditions because they
could be easily replaced
what was one effect of the events in haymarket square
decline of knights of labor/ americans turned against unions
which labor leader began the american federation of labor
samual gompers
how did the federal government support employers during time sof labor unrest
denied unions recongnition as legally protected groups
in what field did signifigant technological innovation occer in the late 1800s
transportation and communications
in which system does one company control the buisnesses that make up all phases of a products development
vertical integration
which argument supports the perception of big buisness leaders as “captains of industry”
buisness support for technology benifited the nation
the icc was formed to
oversee railroad operations
horizontal integration differs from vertical integration in that it
consolidates many firms in the same buisness
the federal government formed the interstate commerce commission to oversee
railroads
which of the following limited membership to skilled craftspeople and forcused on economic reforms
american federation of labor
which event resulted in the execution of four anarchists and the decline of the knights of labor
haymarket riot
in the late 1800s industrial workers
suffered low wages and long hours in unsafe conditions
