History quiz Nov 22 2024 Flashcards
What is the major industry of New York/New England?
Railroad
What is the major industry of Chicago?
Meatpacking
What is the major industry of Detriot?
Automobiles
What is the major industry of Pittsburg?
Steel
What is the major industry of New York City/nationwide?
Textiles (cloth)
What is the major industry of Cleveland?
Oil
Define Mass Consumption
Customers can BUY exactly the same product, at the same time, in large quantities
Define Philanthropy
Donating time, money, resources, and expertise to charities and the community to improve society
Define Mass production
When factories PRODUCE exactly the same product, identically and efficiently in large quantities.
Define Monoply
When one company becomes so powerful and influential that they eliminate all other competitors, becoming the only option left in an industry.
Define National Market
Ability to buy and sell goods all across the country due to mail order catalogues and the extensive railroad network.
Who is Alexander Gramham Bell?
He Invented the telephone and improved nationwide/global communication
Who is Andrew Carneige?
Leader of the Steel Industry. Founded US Steel and was known for his philanthropy despite the poor working conditions in the steel mills.
Who is Thomas Edison?
He Invented the electric light bulb. Electricity was used to light factories and city streets, improving safety and allowing production to go all through the night.
Who is Henry Ford?
King of the Automobile. Credit for using the assembly line to increase production of his famous Model-T. Made cars more affordable to average Americans.
Who is Cornelius Vanderbilt?
Railroad and Shipping Industry Leader. Connected America and helped create the national market through extensive rail routes. Created a monopoly and raised prices unfairly.
Who is John D. Rockefeller?
Created a monopoly of the Oil Industry. Founded Standard Oil and became one of America’s first millionaires. His fuel powered railroads and factories across the country.
Define Laissez Faire
“Hands Off”- when the government when government does little/nothing to regulate or restrict business.
Define Capitalism
to own your own business that the government doesn’t run
Define Free market economy
If the supply is low and the demand is high
Define industrialization
The process of changing to a factory based economy
List some positive impacts of Industrialization
Skyscraper
Economic growth/money
Assembly line
Increase access to goods
Steel,cars,oil,meatpacking,textiles,railroads,and electricity
Advertising
List some negative impacts of Industrialization
Laissez faire
Free market economy
Child labor
Increase in crime
Monopiles
Environmental issues
Dangerous working conditions
What is mechanization?
The work that was done by hand is now done by machines.
Why was this time period known as the “Gilded Age”?
Described the period when the world looked rich but it was poor underneath. (fake gold)
Labor Union
Groups of workers who mobilze together to demand better working conditions. They often went on strike and demanded higher pay or shorter working hours.
Sweatshop
Run down, unsafe, overcrowded factory, where workers were mistreated and underpaid.
Monopoly
When one company becomes and influential that they eliminate all other competitors becoming the only option left in an industry.
