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US History > Chapter 12 Section 3 & 4 > Flashcards

Chapter 12 Section 3 & 4 Flashcards

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1
Q

Big Business would not have been possible without the ___________

A

Corporations

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2
Q

People who own corporations are called

A

stockholders

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3
Q

Investing in new technologies, hiring large workforces, and puchasing many machines enabled corporations to achieve

A

Economies of Scale

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4
Q

Big Businesses had high fixed cost and low operating costs, which gave them several ___________

A

advantages

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5
Q

Many companies did not like the intesnse _________ that had been forced upon them

A

Competition

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6
Q

to stop prices from falling…many companies organized ___________ to keep prices at a certain level

A

pools

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7
Q

The life of ___________ illustrated many factors that led to the rise of big business in the U.S.

A

Andrew Carnegie

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8
Q

Born poor Carnegie eventually opened a ______ business in Pittsburgh.

A

steel

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9
Q

Successful business leaders pushed for………….

A

Horizontal Integration

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10
Q

Who achieved most complete horizontal integration?

A

John D. Rockefeller

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11
Q

IN 1882, Standard Oil formed the first ________, a new way of merging businesses that did not violate laws against monopolies.

A

trust

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12
Q

Many companies immeditely used the law to create a new organization, a ________ company

A

holding

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13
Q

One of the most successful investment banker of the era was…….

A

JP Morgan

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14
Q

What was the first billion dollar company in America?

A

US Steel

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15
Q

what was the first advertising company?

A

NWAYER and SON

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16
Q

What added to tensions between workers and employers?

A

Deflation

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17
Q

What were the two basic types of industrial workers in the 1800s?

A

craft workers and common laborers

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18
Q

What type of workers formed trade unions?

A

Craft Workers

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19
Q

Employers viewed unions as __________

A

Conspiracies

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20
Q

Business leaders particularly opposed

A

industrial unions

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21
Q

What is a contract called that says you will never join a union while working for this company?

A

Yellow-Dog Contract

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22
Q

Workers who tried to strike were fired and placed on a

A

Blacklist

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23
Q

When workers formed a union, companies used what to break them>

A

Lockouts

24
Q

Unions suffered from the perception that they were

A

Unamerican

25
Q

in the 1800’s the ideas of Karl Marx, known as _________ became very influential..

A

Marxism

26
Q

What railroad cut their wages for a third time

A

Baltimore and Ohio

27
Q

How many railroad workers striked at one time?

A

80,000

28
Q

Who opposed strikes preferring to use boycotts?

A

Knights of Labor

29
Q

Knights of Labor also supported what

A

Arbitration

30
Q

in the spring of 1886 what happend that undermined the reputation of the knights?

A

the Haymarket Riot

31
Q

under what strike did a federal court issue an injuntion, directing the union to halt the boycott

A

Pullman Strike

32
Q

What does (AFL) stand for?

A

American Federation of Labor

33
Q

Who was the first president of the AFL

A

Samuel Grompers

34
Q

THE AFL had three main goals..

A

1 Push for closed shop

  1. promoted 8 hour work day
  2. tried to convince companies to recognize unions and agree to collective bargaining.
35
Q

In 1905, a group of labor radicals created the what?

A

(IWW) Industrial Workers of the War

36
Q

by 1900 women made up what percent of the workforce?

A

18

37
Q

One of the most famous labor leaders of the era was….

A

Mary Harris Jones

38
Q

In 1900 what two types of immigrants worked in the clothing business in New York City and founded the International Ladies’ Garment Workers Union

A

Jewish and Italian

39
Q

In 1903, Who established the Womens’ Trade Union League

A

Mary Kenney O’Sullivan, Leonora O’Reilly, Jane Adams, and Lillian Wald

40
Q

used for making high-quality steel efficiently and cheaply

A

Bessemer Process

41
Q

Agreements to amintain prices at a certain level

A

Pools

42
Q

When a company owns all of the different businesses on which id depends for for its operation

A

Vertical Integration

43
Q

became on of the most successful retail chains in American History

A

Woolworth’s

44
Q

When a single company achieves control of an entire market

A

Monopoly

45
Q

Loans, Mortgages, and taxes are examples of a companys…

A

fixed costs

46
Q

Combining many firms engaged in the same type of business into one corporation is called

A

horizontal integration

47
Q

N.W. Ayer and Son developed bold new formats for what.

A

advertising

48
Q

Process whereby an impartial third party helps workers and management reach an agreement

A

Arbitration

49
Q

a rise in the value of money

A

Deflation

50
Q

First national assciation dedicated to women’s labor issues

A

Women’s Trade union League

51
Q

Unions limited to people with specific skills

A

Trade Unions

52
Q

First nationwide union

A

Knights of Labor

53
Q

What did several railroads announce in July of 1877 that Triggered the first nationwidelabor protest?

A

Wage Cuts

54
Q

The first leader of the American Federation of Labor, Samuel Grompers, believed that unions should stay out of

A

politics

55
Q

Workers who tried to organize a union or strike were often fired and placed on a list called the

A

Blacklist

56
Q

Who claimed that after a worker’s revolution, the government would seize all prive property and create a socialist society>

A

Marxists.

US History (35 decks)

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