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Morales: US History > Monopolies/Strikes/Inventions > Flashcards

Monopolies/Strikes/Inventions Flashcards

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1
Q

Who created the telegraph?

A

Sammy Morse

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2
Q

Who created the phonograph?

A

Thomas Edison

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3
Q

Who created the telephone?

A

Alexander Graham

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4
Q

Who created the kodak photograph?

A

George Kodak

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5
Q

Definition: Money invested to start a business

A

Capital

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6
Q

Definition: A business in which many investors share parts in it

A

Corporation

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7
Q

Definition: Part of profit

A

Dividend

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8
Q

Definition: Having complete control over a particular field-> allows a company to raise the price at any level

A

Monopoly

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9
Q

Definition: A corporation that owns a group of unrelated companies

A

Mergers

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10
Q

Definition: Competing companies agreed to fix prices and divide businesses

A

Pools

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11
Q

Definition: A group of preparations in the same field who agree to combine under a board of trustees

A

Trusts

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12
Q

Definition: Companies that buy controlling amounts of stock in a company

A

Holding Companies

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13
Q

Who was Andrew Carnegie? What is the name of his company?

A

Big business man who controlled all aspects of steel making. The name of his company is Carnegie Steels

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14
Q

Who was Rockefeller?

A

Big business man who controlled all oil in the northeast

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15
Q

What was the Standard Oil Trust?

A

Rockefeller’s oil company in which he controlled almost all aspects of oil production

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16
Q

Who was JP Morgan? What did he do/ What is he most known for?

A

JP Morgan was the big businessman of banks, insurance companies, and computer companies. He made his way to the top by loaning growing businesses money. (think Chase Bank)

17
Q

Who was Henry Ford? What is he most known for?

A

Henry Ford mass produced cars- he did this by inventing the assembly line, which he is most known for

18
Q

What is laissez faire?

A

Capitalist economy in which there is little to no government regulation, meaning the government does not control businesses

19
Q

What was the “Gospel of Wealth”?

A

Donations, hard work, and luck

20
Q

What was the Munn vs. Illinois case and why is it important?

A

A U.S Supreme Court case in which it was declared that state governments had the power to regulate certain businesses within their borders, including railroads

21
Q

What was the Interstate Commerce Act?

A

Made to regulate the railroad industry and break up its monopolistic practices, meaning individuals could not regulate trade between the states

22
Q

What was the Sherman Anti Trust Act?

A

prohibited monopolies by declaring any business combinations or trusts

23
Q

What is the Yellow Dog Contract?

A

An agreement that states workers could not join the union

24
Q

What is collective bargaining?

A

Union members present and negotiate worker contracts

25
Q

Who formed the Knights of Labor and what did they believe?

A

Formed by Terrence Powderly, they believed that child labor and 8 hour work days should be stopped

26
Q

What was the American Federation of Labor?

A

Formed by Samuel Gompers, they focused on skilled workers; their goals were higher wages, shorter hours and better conditions

27
Q

What was the International Ladies Garment Workers Union?

A

They held a strike and then became part of the AFL. They were also one of the first primarily all women group

28
Q

What were the Industrial Workers of the World?

A

Known as the Wobblies, they disliked the AFL because of their acceptance of capitalism and disregard for unskilled workers. They focus on gaining better conditions for unskilled workers

29
Q

What was the Great Railway Strike?

A

In 1877, a series of pay cuts for railroad workers led to a strike that spread across several states.

30
Q

What was the Haymarket Riot?

A

A bomb blast and riot left many people dead in Chicago by a labor rally

31
Q

What was the Homestead Strike?

A

Union members at Carnegie Steel went on a strike to protest a wage cut, violence erupted and 16 people were killed

32
Q

What was the Pullman Strike?

A

President Cleaveland sent federal troops to end the strike. His action confirmed that the beliefs that the government favored the interest of businesses over labor

Morales: US History (1 decks)

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