Chap. 3 Study Guide

Question 1

A policy where the government lets business owners essentially do what they want

Answer 1

Laissez- faire

Question 2

People who assure a risk by investing in a business

Answer 2

Entrepreneur

Question 3

Charge on imported goods

Answer 3

Protective tariff

Question 4

Free land given by the government

Answer 4

Land grant

Question 5

Rail road owners accused ofswindling and bribery / corrupt railroad owners

Answer 5

Robber Baron

Question 6

An organization owned by many people - usually from selling stock

Answer 6

Corporation

Question 7

The cost of manufacturing decreases by producing goods quickly and in large quantities

Answer 7

Economies of sale

Question 8

When a company owns all points of an industrial process

Answer 8

Horizontal integration

Question 9

When a company grows by buying its competitors or all steps of an industrial process

Answer 9

Vertical integration

Question 10

A scientific process that transformed iron into steel

Answer 10

Bessemer process

Question 11

When he single company and cheese control of an entire industry (90%)

Answer 11

Monopoly

Question 12

An organization of common laborers and/or craft workers in a particular industry 

Answer 12

Industrial Union

Question 13

Developed a way to harnessed electricity; made the lightbulb

Answer 13

Thomas Edison

Question 14

Scottish immigrant, capitalized on the Bessemer process, used horizontal and vertical integration

Answer 14

Andrew Carnegie

Question 15

Used horizontal integration to achieve a monopoly, lowered prices so competitors went bankrupt, owned 90% of the oil industry

Answer 15

John d. Rockefeller

Question 16

Worked for Andrew Carnegie overseeing the homestead steel plant in Pennsylvania, called in the Pinkerton detectives when workers went on strike

Answer 16

Henry K. Frick

Question 17

Founder of the American Federation of labor

Answer 17

Samuel Gombers

Question 18

Welcomed a diverse group of skilled and unskilled laborers including women and African-Americans, supported the eight hour workday, lost support overtime when they became associated with violence

Answer 18

Knights of labor

Question 19

Restricted membership to skilled workers, became the dominant labor organization in the late 1800s and still exist today, viewed as “less radical” than organizations like the knights of labor and the IWW

Answer 19

American federation of labor

Question 20

What were the factors that led to industrialization within the United States?

Answer 20

Land, labor, Capital

Question 21

Who benefited from protective tariffs and who did not?

Answer 21

American entrepreneurs benefited from tariffs, and non-American entrepreneurs and consumers did not benefit.

Question 22

What were the effects of integrated railway systems and new locomotive technologies?

Answer 22

Made travel easier by connecting the east to the west, stimulated the economy, created new time zones, and created new businesses

Question 23

In what ways did retail change as a result of industrialization?

Answer 23

. Created more entrepreneurs, created more jobs, got larger, and improved

Question 24

What caused workers to form labor unions in the industrial age?

Answer 24

Better pay, better hours, better working conditions, unequal distribution of wealth, how much less money they were making then business owners when they were the ones doing the work

Question 25

What happened at the Homestead plant in Pennsylvania?

Answer 25

Can we Frick called the Pinkertons to open fire on striking workers. This killed and injured many people. And causing outrage of many people everywhere.

Question 26

What railroad did the union pacific in central pacific railroad create?

Answer 26

Transcontinental railroad