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Industrialization Era > Industrialization > Flashcards

Industrialization Flashcards

1
Q

Making goods in factories

A

industry

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2
Q

the total amount of goods made by a country in one year

A

gross national product

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3
Q

“hands off” style of government and business relationship

A

Laissez-Faire

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4
Q

starts and owns a business

A

entrepreneur

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5
Q

What led to the U.S. becoming an industrial nation?

A

access to natural resources, a large workforce, new inventions, and free enterprise

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6
Q

Who were the workers in these big businesses?

A

immigrants

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7
Q

linked the Atlantic and Pacific

A

Transcontinental Railroad

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8
Q

When was the Transcontinental Railroad completed?

A

1869

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9
Q

engineer who built the first sleeping car for railroads

A

George M. Pullman

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10
Q

states win the right to regulate railroads to help farmers

A

Munn v. Illinois

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11
Q

set guidelines on railroads to prevent monopolies

A

Interstate Commerce Act

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12
Q

a grant of land by federal government to be used for railroads

A

land grant

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13
Q

exclusive control over one product (one person controls the selling, buying, and creating of the product)

A

monopoly

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14
Q

effects of the nationwide railroads

A

allowed goods to be transported faster, laws were passed to protect farmers, Western Expansion, government corruption

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15
Q

allowed government to prevent trusts and dissolve any existing trusts

A

Sherman Antitrust Act

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16
Q

a merge between two industries with the same supply chain

A

horizontal integration

17
Q

a merge between two industries with different supply chains

A

vertical integration

18
Q

survival of the fittest, “May the strongest business survive”

A

Social Darwinism

19
Q

made the first industrial union

A

Eugene Debs

20
Q

financial agreement between business owners by gaining goods and property to prevent other businesses from growing

A

trust

21
Q

established by Union Pacific RR company- scam to get more wealth when constructing railroads (self-serving corruption)

A

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Industrialization Era (1 decks)

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