Social studies midterm Flashcards
Boomtowns
Rapidly growing communities that
appeared at the site of mineral strikes
Placer mining
Early prospectors would extract shallow deposits of ore, using simple tools like picks, shovels,
and pans.
Sluice mining
Redirected the current of a river into
trenches, or drains with a screen at the end that kept minerals from escaping with the water and sediment
Hydraulic mining
Spraying water at high pressure to
wash away dirt, gravel, and rock to process minerals.
Haciendas
Huge ranches covering thousands of acres that developed after the Spanish mission
Barrios
Spanish-speaking neighborhoods that helped keep the Hispanic culture and religious traditions alive.
Homestead
A tract of public land
available for settlement
Dry farming
Planting seeds deep in the ground where there was enough moisture for them to grow
Wheat Belt
Productive farm area that
began at the eastern edge of Great Plains.
Bonanza farms
Often brought their owners big profits.
Nomad
A person who continually
moves from place to place, usually
in search of food
Gross national product (GNP)
The total value of all goods and services a country produces in a year.
Thomas Edison
Began the first modern research laboratory, resulting in many new inventions, including the lightbulb, the battery, the motion picture, and the record player.
Alexander Graham Bell
Transmitted sound via an electric current, ultimately inventing the telephone.
Entrepreneurs
People who risk their money in organizing and running a business, believed they could make money in manufacturing and transportation.
Laissez-faire
The belief that the government should interfere as little as possible in the nation’s economy other than to protect private property rights and maintain peace.
Corporation
An organization owned by many people but treated
by law as though it were a single person.
Andrew Carnegie
Founder of a steel company in
Pittsburgh who used vertical integration to set up
his business.
Andrew Carnegie
Founder of a steel company in
Pittsburgh who used vertical integration to set up
his business.
Vertical integration
owns all of the different businesses on which it depends for operation.
John D. Rockefeller
Operated Standard Oil; used
horizontal integration to run his business.
Horizontal integration
Combining many firms
engaged in the same type of business into one
large corporation.
Monopoly
When a single company achieves
control of an entire market.
J.P. Morgan
Specialized in helping sell large blocks of stock to
investment bankers.