Industrialization

Question 1

What is social Darwanism

Answer 1

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

Question 2

What is the gilded age?

Answer 2

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

Question 3

Who was Edwin drake

Answer 3

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

Question 4

Who was Henry Bessemer

Answer 4

Created the Bessemer converter

Question 5

Who are captains of industry?

Answer 5

Their goal= creation of monopolies

Question 6

What are the captains of industries tactics

Answer 6

Vertical integration (supplies)
Horizontal integration (competitors) 
Creating trusts (partnerships)

Question 7

Who is Cornelius Vanderbilt?

Answer 7

1794-1877

Controlled railroads in NY Central Railroad

Question 8

Who is Henry Ford?

Answer 8

1863-1947

Created ford motor company

Question 9

Who is Andrew Carnegje

Answer 9

1835-1919

Carnegie Steel

Question 10

Who was John D Rockefeller

Answer 10

1839-1937

Standard oil

Question 11

Who is JP Morgan

Answer 11

1837-1913
Banking and finance
*most important

Question 12

What was the Gospel of wealth

Answer 12

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

Question 13

Why did industry grow in the United States?

Answer 13

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

Question 14

What are the factors?

Answer 14

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

Question 15

What is capital ?

Answer 15

Capital is money

Question 16

Why did capital encourage growth

Answer 16

Industries needed money to expand their business

Question 17

Why did natural resources encourage growth

Answer 17

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

Question 18

Why did railroads or the national market encourage growth

Answer 18

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

Question 19

How did energy encourage growth

Answer 19

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

Question 20

How did New inventions encourage growth

Answer 20

Production and use of inventions made peoples lives easier

Question 21

How do you large population encourage growth

Answer 21

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

Question 22

How did capitalism encourage growth

Answer 22

A free market encourage trade and entrepreneurship

Question 23

What is the concept of Laissez Faire?

Answer 23

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.

Question 24

What is the assembly line

Answer 24

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

Question 25

What is mass production

Answer 25

Making large quantities of a product quickly and cheaply

Question 26

What are the advantages of factory owners

Answer 26

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

Question 27

What are the disadvantages of factory owners

Answer 27

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

Question 28

What are the advantages of factory workers

Answer 28

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

Question 29

What are the disadvantage of factory workers

Answer 29

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

Question 30

What are the advantages of a consumer

Answer 30

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

Question 31

What are the disadvantages of a consumer

Answer 31

Quality of products might go down | No more unique, custom made goods (craftsmen)

Question 32

What is the Bessemer process

Answer 32

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

Question 33

What is the telephone

Answer 33

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

Question 34

What is the first practical light bulb

Answer 34

Provided light to people 1879 Invented by Thomas Edison

Question 35

What is an electrical power plant

Answer 35

Provided more energy to buildings 1882 Thomas Edison

Question 36

What is a gasoline powered car

Answer 36

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

Question 37

What is radio transmission

Answer 37

Provided far communication between America 1901 Invented by guglielmo Marconi

Question 38

What is powered flight

Answer 38

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

Question 39

What is assembly line

Answer 39

Provided mass production of certain items 1908 Invented by Henry ford

Question 40

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

Answer 40

agricultural | Industrial

Question 41

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

Answer 41

``` 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 ```

Question 42

What is a monopoly

Answer 42

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

Question 43

Postwar changes and farm and city life

Answer 43

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