Chapter 18 Flashcards
Someone who sets up new businesses to make a profit
Enterpeneur
Products are made as they move along a belt
Assembly Line
A document giving someone the sole right to make and sell an invention
Patent
A group of corporations run by a single board of directors
Trust
Company that controls most or all business in a particular industry
Monopoly
Business owned by many investors
Corporation
Unions negotiate with management for workers as a group
Collective Bargaining
The belief that the rich had a duty to improve society
Gospel of Wealth
Place where workers worked long hours under poor conditions for little pay
Sweatshop
Buildings divided into tiny apartments
Tenement
Living areas on the outskirts of the city
Suburb
The rapid growth of city population
Urbanization
The process of becoming a part of another culture
Assimilation
Part of the city where the poor lived
Slum
Large compartments that usually held cattle also area of ships where immigrants traveled in
Steerage
Person who wanted to preserve the United States for native born Americans
Nativist
The requirement that children must attend school up to a certain age
Compulsory Education
Writers who try to show life as it is
Realist
The turn of the 20th century was the changing of which centuries?
19th and 20th
A sensational reporting style of the newspapers at that time
Yellow Journalism
A person who opposes all forms of government
Anarchist
List 3 natural resources that helped fuel industrial expansion at the turn of the 20th century
Coal
Iron
Copper
How did high tariffs help American businesses?
Tariffs raised the price of foreign goods and made lower priced American goods more attractive to customers
What is the name of the process invented in the 1850’s that made the stronger steel at a lower cost?
Bessemer Process
According to their defenders, how did trusts benefit the economy?
Trusts allowed companies to lower prices
What invention improved communication in the late 1800’s?
Telephone
What was the most important effect of Henry Ford’s method of automobile production?
Millions of Americans could now afford automobiles
Describe 3 feelings about trust held by those who criticized trusts
- Business leaders were “Robber Barrens”
- Trusts threatened free enterprise
- Trusts unfairly eliminated competition
How did the railroad industry fueled industrial growth?
They carried people west and raw materials east
What was John D. Rockefeller best known for?
Oil
What was J.P. Morgan best known for?
Banking
List 3 examples of how the national government encouraged growth
- Land Grants
- Subsidies
- Tariffs on imports
What two energy sources led to many new inventions?
- Oil
- Electricity