Unit Four-The Glided Age Flashcards
What is vertical intergration?
arrangement in which the supply chain of a company is owned by that company, each memeber of the supply chain produces something different
What is a monopoly?
when a single person or business owns and controls every part of a industry
What is horizantal intergration?
company creates for different companies who make the same thing
What is laissez-faire?
belief that economies and businesses function best when there is no interference by the government
What is a trust?
allowed a 2nd party to control stocks
~allowed companies to work around the horizantal integraion laws
What are land grants?
grant of public land, like a gift of real estate
Who is John D. Rockefeller and wha was so special about him?
founder of the Standard Oil Company , world’s wealthiest man, created horizantal intergration
Who was Andrew Carnegie and how was he important?
Helped build the American Steel Industry , creator of vertical intergration
Who was J.P Morgan and how was he important?
financed railroads , helped organize U.SSteel and other majoor corporations, J.P Morgan &Company , accused of manipulating the nation’s financial system for his own gain
Who was Cornelius Vanderbilt and how was he special?
built steamboats and operated ferry lines
Why did populations of cities grow after the Civil War?
People needed jobs
Where was the first skyscraper built and who was the architect ?
Chicago
~Jenny
What is ranching and how it changed the landscape of the west
breeding animals on a ranch
~crossing territory lines
What was the Homestead Act?
public land in the west was granted available to settlers without payment
What was the Dawes Act?
Authorized the President to survey American Indian tribal land
