Chapter 2 section 1 and 2 1-30 Flashcards
Why wouldnt you find many factories in the south?
Because there are a lot of fields in the south that grow cotton tobacco and indigo
Where does manufacturing usually take place?
In cities on waterways or railroad tracks and in the northeast/ midwest
What did Henry Bessemer do?
Henry Bessemer came up with the Bessemer steel process that made it easier and cheaper to make steel.
What was steel used for?
Railroads barbed wire plows and beams for buildings
What is Thomas Edison known for?
Electricity and a safe lightbulb
What was the Gilded Age?
It was when the poverty of 11 million families was being masked by the success of a few people.
What is a patent?
A term for a protected invention (registered with the government)
What is a trust?
A legal body created to hold stock in many companies.
Who was the man who heard the first words through the telephone
Mr. Watson
First time a stock is available
Initial public offering
Or IPO
Who coined the term the gilded age?
Mark Twain Charles Warner
Who invented flat bottom bags?
Margaret Knight
Term given when one company controls and industry
Monopoly
This man thought if you make the best product you dont need to use questionable tactics to be successful.
Andrew Carnegie
Robber Baron
John D Rockefeller
Inventor of the telephone
Alexander Graham Bell
Term given to individuals who own parts of a corporation
Shareholders
name a financial disadvantage to forming a corporation
to have to share profit with others
corporate tax
First practical useable typewriter
Latham Sholes
name a product that needed steel for it’s production
barbed wire
beams for buildings
railroad tracks
who founded the University of Chicago?
John D Rockefeller
what college did Andrew Carnegie found?
Carnegie Mellon College
what is the business cycle?
Sometimes business is good sometimes it is bad
What is it called when a business is doing good?
boom or booming