history 19.0 Flashcards
What did Industralization brought to the USA
We went from being a rural to a urban industrial nation
Who invented the telephone
Alexander Graham Bell
What were the contribution of Alva Edsion?
He opened the 1st lab in menlo park New jersey. They invented the light bulb. He lauched his electrical company. Electricity revolutionized both Urban life and industry
When was the first Indrustrial revolution?
In the period 1760 to 1830 the Industrial Revolution was largely confined to Britain.
The second Industrial revolution?
1871-1914. In 1865 the production was at 2 billion by 1900 the production was 13 bilion. It made the USA from fourth to first in the world in terms of productivity.
What helped the economic growth?
the transcontinelntal rail road completed in 1869. in 1880 the addition of 3 more major rail line ( southnern pacific, the northern pacific, the atchinson, topeka, and santa fe. We were able to provide raw materials to industry.
How did the use of machinery help the economy?
Machines replace workers. It made more efficient and faster the production of goods. Assembly lines became the standard in most areas of manufacturing.
How did expand the market for goods?
Mail order system it drew rural and urban consumers into a common market place. Sears and other companies had a variety of good.
How industrialization help the economy?
New stores sprung up and the offered inexpensive products. they offer lower prices than small independent stores.
A&P
originally Great atlantic pacific tea company name after the completion of the transcontinental railroad. it offered variety of good at very cheap price
Retail stores
after the civil war there was a huge BOOM in the deparment stores started to take over the specialty and small convinience stores. some ex Macy’s NYC , marshall field of chicago. they offered imported goods, rest room, reading room.
Advertising agency
with the new stores we had a need for ad companies. in 1869 Francis Wayland Ayer founded the earliest ad agency. With the the help of ad the profits of some dept stores grow from 8 million in 1860- 102 million in 1900
2 ways in which bussiness grew?
Verical integration:a firm gained control of production: raw materials, transporting and merchandising the final product.EX. 1899 The united fruit company had opened 21 distribution centers in 21 major cities by having an eleborate system of central american plantations, temp controlled shipping and storage facilities. It became one of the nations largerst corp.
What is Horizontal combination?
gaining control of the market with a single product. Ex. John D. Rockefeller w/ Standard oil company in the 1870. 1. secured preferential rates from railroads. 2. he convinced local oil operators to sell their stock to him. The standard oil trust of 1882 controlled more that 90 % of the nation oil refinery industry
What is the sherman Anti-trust Act?
In 1890 congress passed this to restore competition by encouraging small bussiness and outlawing “ every combination in restrain of trade and commerce
