Gilded Age-Rise Of Bug Business 1880-1910

Question 1

Gilded Age

Answer 1

• Coined by Mark Twain, it means FAKE GOLD. While America was becoming much more powerful and wealthy it was only in the hands of a very few.
• 1% of the population controlled 90% of the wealth.

Question 2

Laissez-Faire Economics

Answer 2

-Hands-off economic policy.

Question 3

Industrial Revolution

Answer 3

-CHANGE from making goods by hand to making them by machine. Required raw materials, steel and energy (coal and oil) to develop in the U.S.

Question 4

Rise of Big Businesses

Answer 4

• Time of huge corporations, monopolies, trusts.

- Robber Baron’s or Captains of Industry?!

Question 5

Andrew Carnegie

Answer 5

• Philanthropist.

- Created “Carnegie Steel” which became a huge monopoly and dominated the steel industry.

Question 6

John D. Rockefeller

Answer 6

• First millionaire.
• American industrialist and philanthropist.
• Co-owner of Standard Oil Company which dominated the oil industry.
• First great U.S. business trust.

Question 7

Effects on Workers

Answer 7

• More hours.
• Less pay.
• Tenement living.
• Dangerous/dirty conditions.