Industrial Revolutuon

Question 1

Consolidate

Answer 1

Combine. Larger companies buying up smaller ones.

Question 2

Gauges

Answer 2

Width of a track.

Question 3

Pool

Answer 3

Several railroad companies agree to divide up the business in an area. They then fixed their prices at a high level.

Question 4

Rebate

Answer 4

Discount

Question 5

What tactics did railroads use to eliminate competition?

Answer 5

Rebates and pools

Question 6

Bessemer Process

Answer 6

Enabled steel makers to make strong steel at a lower cost.

Question 7

Vertical Integration

Answer 7

Gaining control of all the steps used to change raw materials into finished products.

Question 8

Corporation

Answer 8

Business that is owned by investors.

Question 9

Dividends

Answer 9

Shares of a corporations profit.

Question 10

Trust

Answer 10

Group of corporations run by a single board of directors.

Question 11

Monopoly

Answer 11

Controls all or nearly all the business of an industry.

Question 12

Free enterprise system

Answer 12

Businesses that are owned by private citizens.

Question 13

What was an immediate economic result of the use of mass-production techniques?

Answer 13

Reduced the cost of making goods

Question 14

How did the automobile and airplane change American life?

Answer 14

Improved travel, made travel faster, easier, and cheaper.

Question 15

What were the benefits of steel making in Pittsburgh?

Answer 15

Brought jobs and prosperity to the area.

Question 16

Network

Answer 16

System of connected rail lines.

Question 17

What was a major goal of the Sherman Antitrust Act?

Answer 17

Prevent the formation of business monopolies.

Question 18

Why do people purchase shares of stock?

Answer 18

In order to share in corporate profits.

Question 19

What was an advantage of the Bessemer Process?

Answer 19

Enabled steel makers to produce iron at a lower cost

Question 20

What new inventions helped rail travel?

Answer 20

air brake, refrigerated railroad car, and sleeping car

Question 21

Which industries were helped by the growth of the railroad?

Answer 21

steel, coal, lumber

Question 22

Stock

Answer 22

shares in the business, corporations sell shares to investors who are known as stockholders.