Chapter 2- Section 1

Question 1

Lewis Latimer

Answer 1

Lewis Latimer was an African American inventor who played a key role in improving practical electrical lighting

Question 2

Thomas Edison

Answer 2

Thomas Edison was the inventor of the light bulb, phonograph/record player and numerous other innovations

Question 3

Alexander Graham Bell

Answer 3

Alexander Graham Bell invented the telephone

Question 4

John D. Rockefeller

Answer 4

John D. Rockefeller established the Standard Oil Company

Question 5

robber baron

Answer 5

a robber baron was a business leader who became wealthy through dishonest methods

Question 6

Andrew Carnegie

Answer 6

Andrew Carnegie built U.S. steel industry

Question 7

Gilded Age

Answer 7

the Gilded Age was a late 1800s era of fabulous wealth

Question 8

patents

Answer 8

patents were government documents giving an inventor the exclusive right to make and sell an invention for a specific number of years

Question 9

corporation

Answer 9

a corporation is a business owned by stockholders who share in its profits but are not personally responsible for its debts

Question 10

monopoly

Answer 10

a monopoly is a business that gains control of an industry by eliminating other competitors

Question 11

trust

Answer 11

trust is a legal body created to hold stock in many companies, often within an industry

Question 12

business cycle

Answer 12

a business cycle is the pattern of good and bad economic times

Question 13

shareholder

Answer 13

a shareholder is an investor who buys part of a company through shares of stock

Question 14

depression

Answer 14

depression is a period of low economic activity and rising unemployment

Question 15

gild

Answer 15

cover with a thin layer of gold

Question 16

Bessemer Steel Process

Answer 16

The Bessemer Steel Process was a new way to create steel that led to mass production of steel