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Mr. Harrell > Chapter 14-Industrialization > Flashcards

Chapter 14-Industrialization Flashcards

1
Q

How did the Civil War effect the economy

A

US became industrialized making the weapons of war

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2
Q

To leave one to do as they wish economically mean…

A

Laissez-faire economics

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3
Q

Laissez-faire economics promotes

A

rising gross national product (GNP)

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4
Q

An entrepreneur of the latter 1800s was often called…

A

a Captain of Industry or Robber Baron

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5
Q

He manipulated the stock market in the years after the Civil War

A

Jay Gould

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6
Q

He was the Robber Baron of Steel production

A

Andrew Canegie

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7
Q

Carnegie’s major steel factory was at…

A

Pittsburgh, Penn.

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8
Q

Free trade and little government interference is the basis of ___ economics

A

Laissez-faire economics

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9
Q

This was to protect American business from foreign competition in the post Civil War years.

A

Morrill Protective Tariff

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10
Q

Businesses formed ____ to control prices in a market.

A

pools

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11
Q

Another name for a monopoly is…

A

a trust

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12
Q

Large companies that sold common stock to investors were called…

A

corporations

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13
Q

A huge business can save money easier than a small business due to the ideas of…

A

economies of scale

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14
Q

These are companies that only own stocks of other companies rather than producing anything themselves. They are called…

A

Holding companies

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15
Q

Monopolies own all…

A

means of production for an industry

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16
Q

What are two types of monopolies?

A

Horizontal monopolies

Vertical monopolies

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17
Q

List the two types of costs for all businesses.

A

Fixed costs

Operating costs

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18
Q

____ owns a corporation.

A

stock holders

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19
Q

What resources did American possess that led to large industrialization following the Civil War?

A

Natural resources

Human resources

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20
Q

What are examples of human resources

A

population
immigrants
workers

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21
Q

What are three natural resources in the US following the Civil War

A

Coal
Oil
iron

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22
Q

Who drilled the first successful oil well in the US?

A

Drake’s oil well in Penn.

23
Q

Who developed the steel making process?

A

Bessemer’s steel

24
Q

Alexander Graham Bell invented…

A

telephone

25
Q

Thomas Edison invented…

A

electric light and tons of other things

26
Q

Otis invented….

A

safety elevator

27
Q

What expanded the transportation industry following the Civil War?

A

Transcontinental railway network

28
Q

what did the Pacific Railway Act of 1862 provide?

A

land grants to make a transcontinental railroad system

29
Q

Who led the Central Pacific Railway Co.

A

Judah

30
Q

Who led building the Union Pacific Railroad

A

Grennville Dodge

31
Q

Who was the owner of the Great Northern Railroad?

A

Hill

32
Q

Where did the first transcontinental railroad join the Union Pacific and Central Pacific?

A

Promontory Point, Utah

33
Q

What did the railroad invent to keep trains on time.

A

the first time zones.

34
Q

How did railroads improve the economy?

A

Building them

opening national markets for goods

35
Q

Whose company made passenger cars?

A

Pullman Palace Car Co.

36
Q

How did American businesses reach more customers in the latter 1800s?

A

department stores

37
Q

list three department stores

A

Woolworths
Sears/Reubuck
Montgomery Wards

38
Q

Wage cuts, layoffs, harsh working conditions, and deflation all led to the rise of…

A

Labor unions

39
Q

value of money increases is called…

A

deflation

40
Q

List two major labor unions in the latter 1800s.

A

Knight of Labor (Knights)

American Federation of Labor (AFL)

41
Q

Leader of the Knights of Labor

A

Terrance Powderly

42
Q

leader of the American Federation of Labor

A

Samuel Gompers

43
Q

name on labor union for working ladies

A

Women’s Trade Union League

44
Q

What three category of workers were typically not allowed to join labor unions

A

women
children
African Americans

45
Q

list four labor strikes in the latter 1800s

A

Pullman strike
Great Railroad Strike of 1877
Haymarket Riot
Homestead Strike

46
Q

What were the typical reaction by employers to union organizers entering their factories?

A

strikebreakers
blacklists
lockouts

47
Q

What three group of radicals sought political answers to the working class problems?

A

Anarchists
Marxists
Communists

48
Q

What tool did union organizers try unsuccessfully to use to address their greivances

A

Arbitration

49
Q

What tool did more radicals encourage labor unions to use to address their grievances?

A

strikes

50
Q

What rally became a violent riot where people were killed?

A

Haymarket

51
Q

The Haymarket riot resulted when unions tried to strike against the ___.

A

McCormick Reaper Works in Chicago

52
Q

Where was the Homestead strike?

A

Pittsburgh, Penn

53
Q

How did President Hayes respond to the Great Railway Strike of 1877?

A

Sent in the military on the side of the railway owners saying the strike interfered with the federal mail

Mr. Harrell (37 decks)

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