Chapter 14 - Test Flashcards

1
Q

Part of the big four; became a governor of California; served as a US senator; founded Stanford University in 1885

A

Leland Stanford

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2
Q

It was his idea to build the transcontinental railroad; he got the building process started

A

Theodore Judah

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3
Q

Where did the Central Pacific Railroad start

A

San Francisco, California

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4
Q

Where did the Union Pacific Railroad start

A

Omaha, Nebraska

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5
Q

Where did the central Union Pacific Railroad meet to form the transcontinental railroad

A

Promontory Point in Utah

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6
Q

Who is the most successful railroad consolidator

A

Cornelius Vanderbilt

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7
Q

To make goods more cheaply because you produce so much so quickly using large manufacturing facilities

A

Economy of Scale

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8
Q

Buy companies you need to make your product

A

Vertical integration

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9
Q

Buy all companies who are your competition

A

Horizontal integration

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10
Q

What were the two first mail order catalogs

A

Sears and Roebuck and Montgomery ward

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11
Q

Consisted of common workers

A

Industrial union

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12
Q

Consisted of skilled workers

A

Craft union

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13
Q

Consisted of both common workers and skilled workers

A

Trade union

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14
Q

An order not to act

A

Injunction

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15
Q

Hey level in the corporate world in which women will never climb

A

Glass ceiling

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16
Q

Industrial workers had ______ skills; when they went on strike they were _______

A

Basic; replaced

17
Q

Craftworkers had _______skills; when they went on strike they were _______

A

Special; begged by the company to come back

18
Q

Born in Scotland; worked in a textile factory at age 12; became a messenger in the telegraph office; served as private secretary to Thomas Scott; became a superintendent of the room; sold railroad bonds; opened up a steel industry in Pittsburgh in 1875

A

Andrew Carnegie

19
Q

The only transcontinental railroad that did not go bankrupt; built by James J. Hill

A

Great northern

20
Q

How did corporations achieve economies of scale

A

With the money raised from stock, corporations invested in new technology, hired larger workforce, and purchase machines

21
Q

What is vertically integrated company and what was an example in the late 1800s

A

To own all the different businesses depending on the operation; Carnegie’s company

22
Q

What was likely the cause of small companies going out of business

A

The changing nature of business organization and the new importance of fixed costs

23
Q

What was the Crédit Mobilier Scandal

A

Investors signed contracts with themselves, and Crédit Mobilier overcharged Union Pacific. Since the same investors controlled both companies, the railroad agreed to pay the inflated bill. By the time the Union Pacific Railroad was completed, investors made millions and the railroad was almost bankrupt

24
Q

T his is not all of the cards. Find them ⬇️

A

On Olivia’s Flashcards

25
Q

In charge of building the route road from Omaha Nebraska westward

A

Greenville Dodge