social studies Flashcards
Describe Vertical and Horizontal integration. Give an example of a monopolist that used each method.
Vertical Integration-controlling all steps of production to lower costs and outcompete rivals
Monopolist-Carnegie
Horizontal Integration-reducing prices to drive out competitors, pressuring customers, and forming trusts.
Monopolist-Rockefeller
During the 1800s, workers in the American industrial workforce formed labor unions to demand what three things?
- Higher wages
- Shorter hours
- Better working conditions
What is it called when labor union representatives negotiate with owners?
Collective bargaining
What are the three factors of production?
**What things were needed to change from an economy of agriculture to an economy of industry
- Labor – people and wages
- Land- resources and property
- Capital- used to purchase equipment, buildings, materials, etc.
Define nativism
Nativism is opposing immigration. Nativists grew during this period and eventually the government started restricting immigration.
What laws were written to limit immigration
1882- Chinese exclusion act
1897- All immigrants were required to be able to read and write
1917-Immigration Act of 1917 – limited Asian immigration
Where areas of the world did people immigrate from in the late 1800s?
Eastern Europe (Russia and Poland) and Southern Europe (Italy), Asia, Mexico
How did immigration in the late 1800s affect the following aspects of United States?
City growth – cities grew quickly, disease, overcrowding, dirty
Neighborhoods- immigrants make their own neighborhoods
New Laws – laws were written to limit immigration
List pull factors that contributed to increased immigration in the late 1800s.Pg. 568
- job opportunities - appearance of hope -promise of equality
List push factors that contributed to increased immigration in the late 1800s.Pg. 568
Push Factors
-economic hardships
-unstable governments
-unfair laws
-scarcity of food
What is it called when one person controls an entire industry Pg. 558
A monopoly
How does having a monopoly affect the cost of an item? Pg. 558
The producer can set the cost, supply and demand will not affect them because everyone needs their product and they are the only supplier
What is philanthropy?
In what way was Andrew Carnegie a philanthropist?
Using your great wealth to improve the situations of the less fortunate. Carnegie built over 2000 libraries and funded the arts.
Explain how having a monopoly in a certain industry would affect the following
1. Consumers ability to choose between brands
2. Cost of the product
3. Quality of the product
4. Rights of the workers in that industry
. There is no choice
2. The cost is set by the monopolist, usually higher than what one would expect
3. There is no reason for the monopolist to worry about quality or improving their product
4. Workers can not use their skills in other industries, and don’t have a choice of employers if it is all owned by one person
What two industries profited from the creation of railroads, and who were the main monopolists of those industries?
Steel and Oil – Carnegie and Rockefeller