chapter 24

Question 1

Cornelius Vanderbilt

Answer 1

– A powerful businessman who made a fortune in railroads and shipping, helping to expand and modernize transportation in the U.S.

Question 2

Wabash Case (1886)

Answer 2

– A Supreme Court case that ruled states couldn’t regulate railroads that crossed state lines, leading to federal control over interstate commerce.

Question 3

Interstate Commerce Act (1887) .

Answer 3

– A law that created the Interstate Commerce Commission (ICC) to regulate railroad rates and prevent unfair practices, especially against farmers

Question 4

Vertical Integration

Answer 4

– A business strategy where a company controls every step of production, from raw materials to selling the final product (used by Andrew Carnegie in the steel industry).

Question 5

Horizontal Integration

Answer 5

– A business strategy where a company buys out or merges with competitors to dominate an industry (used by John D. Rockefeller in the oil industry).

Question 6

Trust –

Answer 6

A large business organization where multiple companies are controlled by a single board to reduce competition and increase profits (common in monopolies).

Question 7

John D. Rockefeller –

Answer 7

A wealthy businessman who dominated the oil industry with his company, Standard Oil, using ruthless tactics and horizontal integration.

Question 8

Andrew Carnegie

Answer 8

– A steel industry leader who used vertical integration to build a massive steel empire and later donated much of his wealth to charity.

Question 9

Social Darwinists

Answer 9

– People who applied Charles Darwin’s “survival of the fittest” idea to business and society, arguing that the wealthy were naturally superior and the poor were lazy or weak.

Question 10

Sherman Anti-Trust Act (1890)

Answer 10

– A law meant to stop monopolies and trusts from controlling markets, though it was initially weak and often used against labor unions instead of big businesses.

Question 11

Knights of Labor

Answer 11

– An early labor union that included all workers (skilled and unskilled) and fought for better wages, working conditions, and an eight-hour workday.

Question 12

Haymarket Square (1886)

Answer 12

– A violent labor protest in Chicago that turned deadly when a bomb exploded, leading to public distrust of labor unions, especially the Knights of

Question 13

American Federation of Labor (AFL)

Answer 13

– A labor union led by Samuel Gompers that focused on higher wages, shorter hours, and better working conditions for skilled workers.

Question 14

Closed Shop

Answer 14

– A workplace where only union members can be hired, ensuring workers have better wages and job security.