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History > Industrialization > Flashcards

Industrialization Flashcards

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1
Q

What is social Darwanism

A

Only the strongest companies survive, ultimately resulting in a monopoly.

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2
Q

What is the gilded age?

A 
Coined by mark twain
Glitter on the surface, cure option beneath
Corporate greed
Political corruption
Emergence of modern industrial economy
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3
Q

Who was Edwin drake

A

He made the first oil Derrick in Titusville, PA in 1859

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4
Q

Who was Henry Bessemer

A

Created the Bessemer converter

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5
Q

Who are captains of industry?

A

Their goal= creation of monopolies

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6
Q

What are the captains of industries tactics

A 
Vertical integration (supplies)
Horizontal integration (competitors) 
Creating trusts (partnerships)
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7
Q

Who is Cornelius Vanderbilt?

A

1794-1877

Controlled railroads in NY Central Railroad

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8
Q

Who is Henry Ford?

A

1863-1947

Created ford motor company

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9
Q

Who is Andrew Carnegje

A

1835-1919

Carnegie Steel

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10
Q

Who was John D Rockefeller

A

1839-1937

Standard oil

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11
Q

Who is JP Morgan

A

1837-1913
Banking and finance
*most important

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12
Q

What was the Gospel of wealth

A

Rich reinvest money into society
Philanthropy
Wrath can be used to transform society

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13
Q

Why did industry grow in the United States?

A

It had al 7 factors compared to other countries that had much less

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14
Q

What are the factors?

A 
Capital 
Natural resources 
Railroads/ National market 
Energy 
New inventions 
Large population 
Capitalism
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15
Q

What is capital ?

A

Capital is money

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16
Q

Why did capital encourage growth

A

Industries needed money to expand their business

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17
Q

Why did natural resources encourage growth

A

Industries use resources like timber, Iron ore and coal to produce goods

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18
Q

Why did railroads or the national market encourage growth

A

Goods could now be sent faster, cheaper and for longer distances

19
Q

How did energy encourage growth

A

New energy sources like oil and electricity kept factories running and encouraged new businesses to form

20
Q

How did New inventions encourage growth

A

Production and use of inventions made peoples lives easier

21
Q

How do you large population encourage growth

A

Immigrants provided a labor force. Provided on market to sell goods to

22
Q

How did capitalism encourage growth

A

A free market encourage trade and entrepreneurship

23
Q

What is the concept of Laissez Faire?

A

It was a government policy to not get involved in the regulation of industry, allowing some companies to profit and thrive, but also resulted in some smaller companies being forced out of business.

Also resulted in rising concern over labor issues such as wages, working conditions, and child labor, because many companies placed desired for profits over the needs of its workers.

24
Q

What is the assembly line

A

Assembly-line is A line of factory workers and machines used to put together a product. Products move from one person to another, each with a specialized task

25
Q

What is mass production

A

Making large quantities of a product quickly and cheaply

26
Q

What are the advantages of factory owners

A

Money
Can replace people
Produce more goods cheaply
Less skilled workers needed equals lower pay

27
Q

What are the disadvantages of factory owners

A

Didn’t have employees who knew how to fix the machines
Must be in total control of assembly-line
Less skilled workers needed equaled limited knowledge

28
Q

What are the advantages of factory workers

A

Any man could work and get a job in a factory assembly line
Workers are dependent on each other
Specialization workers become very good at one thing which can make you an expert at that task

29
Q

What are the disadvantage of factory workers

A

Repetitive task would become tedious and boring
Specialization makes a worker very good at one thing which might make it hard to find work elsewhere
No motivation
Now you’re just a worker and become easy to replace

30
Q

What are the advantages of a consumer

A

More choices
More affordable
What axis to Goodstein might not be able to buy

31
Q

What are the disadvantages of a consumer

A

Quality of products might go down

No more unique, custom made goods (craftsmen)

32
Q

What is the Bessemer process

A

They made easier way to convert iron into steel
1856
Invented by Henry Bessemer

33
Q

What is the telephone

A

Provided much easier communication from far distances
1876
Invented by Alexander graham bell

34
Q

What is the first practical light bulb

A

Provided light to people
1879
Invented by Thomas Edison

35
Q

What is an electrical power plant

A

Provided more energy to buildings
1882
Thomas Edison

36
Q

What is a gasoline powered car

A

Provided much easier transportation from far distances
1893
Invented by Charles and J Frank duryea

37
Q

What is radio transmission

A

Provided far communication between America
1901
Invented by guglielmo Marconi

38
Q

What is powered flight

A

Provided much easier transportation by air travel
1903
Invented by Orville and Wilbur Wright

39
Q

What is assembly line

A

Provided mass production of certain items
1908
Invented by Henry ford

40
Q

Between the Civil War in World War I, United States was transformed from a blank to a blank nation

A

agricultural

Industrial

41
Q

What were the reasons for the rise and prosperity of big business

A 
National markets created by transportation advances
Advertising
Capitalism – lower production costs
Access to Raw materials  and natural resources
Access to energy 
Available workforce
Financial resources
New inventions
42
Q

What is a monopoly

A

Monopoly is company that controls all or nearly all of the business of an industry

43
Q

Postwar changes and farm and city life

A

Mechanization on farms reduced labor needs and increased production
Industrial development in cities created increased labor needs
Industrialization lead to access of consumer goods

History (4 decks)

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