Chapter 18 Review Flashcards
What conditions spurred the growth of industry as the nation expanded westward?
Government policies, new technology, and new sources of energy
Government policies helped business grow, new technology allowed railroads and cities to expand, and new sources of energy supplied industry needs.
What technology made steel the main building material of American cities and industries?
The Bessemer process
The Bessemer process was a method to make stronger steel at a low cost.
How did the government support business?
Land grants, subsidies, and high tariffs
The government gave generous land grants and other subsidies to railroads and other businesses, while keeping high tariffs on imports.
What was ‘black gold’ and how did it get that name?
Oil; it was extremely valuable, similar to gold
Black gold was a nickname for oil because it was so valuable for the industrialization of machinery.
Why was Thomas Edison’s power plant important?
It provided reliable energy for homes and factories
Edison’s power plant powered homes, city streetcars, and enabled factories to replace steam engines with safer electric ones.
Why did the cost of automobiles decrease after 1913?
Introduction of the assembly line by Henry Ford
The assembly line sliced production time in half, allowing lower production costs and prices.
Fill in the blank: The invention considered most important to modern life is _______.
Thomas Edison’s electrical power plant
Edison’s electrical power plant is crucial because other inventions rely on a reliable source of energy.
True or False: The electrical power plant was essential for the development of other inventions like light bulbs and the phonograph.
True
The electrical power plant started the modern age of electricity, making other inventions possible.
What is an entrepreneur?
Someone who sets up a new business to make a profit
Entrepreneurs take on financial risks in the hope of profit.
A business owned by many investors is also known as a…
corporation
Corporations can raise capital by selling stock.
What defines a monopoly?
When a company controls most or all business in a particular industry
Monopolies can limit competition and raise prices.
… founded the steel company that produced more steel than all the mills in England combined in 1882.
Andrew Carnegie
Carnegie was a key figure in the American steel industry.
Who was John D. Rockefeller?
He formed the Standard Oil Trust, thus ending competition in the oil industry
Rockefeller is often associated with monopolistic practices.
True or false: A trust is a group of corporations run by a single board of directors.
True
Trusts are used to control a market and reduce competition.
What is free enterprise?
The system in which privately owned businesses compete freely
Free enterprise is a fundamental principle of capitalism.
What did Samuel Gompers found?
the American Federation of Labor (AFL) in 1886
Gompers was a key labor leader advocating for workers’ rights.
What is collective bargaining?
When unions negotiate with management for workers as a group
Collective bargaining aims to improve working conditions and wages.
How did trusts benefit the nation?
They created jobs and built up the economy
Trusts can lead to economic growth through increased efficiency.
How were trusts detrimental to the nation?
They had the ability to become a monopoly and get rid of free enterprise
Trust leaders could influence politicians and crush competition.
What dangers did factory workers face?
They breathed in fibers and dangerous dusts, risking lung disease
Steelworkers faced burns and death from molten metal, with employers often not liable for injuries.
What were the goals of labor unions?
To provide better working conditions, higher wages, and shorter hours
Labor unions aimed to improve the lives of industrial workers.
What methods did the AFL use for fair working conditions?
Remember: Samuel Gompers was the founder of the AFL
Collective bargaining and strikes as a last resort
The AFL focused on negotiating for skilled workers.
Fill in the blank: The Triangle Shirtwaist Factory Fire could have been avoided by improving _______.
[safety standards]
The fire highlighted the need for better workplace safety regulations.
After the Triangle Shirtwaist Factory Fire, what safety features were implemented across factories nationwide?
fire alarms, fire extinguishers, and hoses