US History Final Review Flashcards
Why was industrialization in America possible in the late 1800’s?
Industrialization was made possible by factors such as abundant natural resources, an expanding rail network, a growing population, technological innovations (like the telegraph and steam engine), and government policies that supported business growth.
What is a monopoly? Give one example of a monopoly that we discussed.
A monopoly is a market structure where a single company or entity controls an entire industry or product, eliminating competition. Example: Standard Oil, controlled by John D. Rockefeller.
What is a “trust”? Why were they viewed as dangerous by the federal government?
A trust is a legal arrangement where multiple companies in the same industry combine to limit competition. Trusts were seen as dangerous by the government because they could manipulate prices and stifle competition, leading to higher prices for consumers.
Explain the idea of supply and demand.
Supply and demand is an economic principle where the price of a good or service is determined by its availability (supply) and the desire for it (demand). If demand exceeds supply, prices go up; if supply exceeds demand, prices go down.
What is the Populist Party? Explain one goal of the Populist Party.
The Populist Party was a political group formed in the late 19th century that advocated for the interests of farmers and working-class people. One goal was the free coinage of silver to increase the money supply and ease debt burdens.
Describe the working conditions during the Second Industrial Revolution. How were workers treated?
Workers faced long hours, low wages, and unsafe conditions in factories. Child labor was common, and many workers were exposed to hazardous materials and machines.
What is a muckraker? List some famous muckrakers and what they wrote about.
Muckrakers were journalists who exposed corruption, social injustices, and abuses.
Ida Tarbell – wrote about the corrupt practices of Standard Oil.
Lincoln Steffens – wrote about political corruption in urban cities.
Upton Sinclair – wrote The Jungle, exposing unsanitary practices in the meatpacking industry.
What is meant by laissez-faire capitalism?
Laissez-faire Capitalism: Laissez-faire capitalism is an economic system where the government takes a hands-off approach, allowing businesses to operate with minimal regulation and interference.
What is a corporation? Why did many companies move to this type of organization?
A corporation is a business organization that is legally recognized as a separate entity from its owners. Many companies adopted this structure to raise capital, limit personal liability, and expand their operations.
How did the American population shift in America between 1860 and 1920 (where were people living)?
Between 1860 and 1920, there was a significant shift as people moved from rural areas to cities (urbanization), driven by industrial jobs. Immigration also contributed to urban growth.
What is collective bargaining? What was its goal? Why was it used?
Collective bargaining is a process where workers, typically represented by unions, negotiate with employers for better wages, hours, and working conditions. The goal was to secure fair treatment for workers.
What is vertical integration? Who came up with this business model?
Vertical integration is a business strategy where a company controls all stages of production, from raw materials to final product. Andrew Carnegie used this model in the steel industry.
What is horizontal integration? Who came up with this business model?
Horizontal integration is the process of a company acquiring or merging with other companies in the same industry to reduce competition. John D. Rockefeller used this model with Standard Oil.
What is Social Darwinism? What is an example?
Social Darwinism is the belief that the principles of natural selection (survival of the fittest) apply to human society and business, justifying wealth inequality and the domination of big businesses. An example is the justification for monopolies in the late 19th century.
How did immigration to the United States change between 1854 and 1907?
Immigration to the U.S. increased dramatically during this period, with many arriving from southern and eastern Europe, particularly Italy, Poland, and Russia, as opposed to earlier waves from northern and western Europe. Many came for better economic opportunities and to escape political or religious persecution.
What is a new immigrant? What is an old immigrant?
New Immigrant: New immigrants were those who arrived in the U.S. during the late 19th and early 20th centuries, mainly from southern and eastern Europe (e.g., Italy, Poland, Russia).
Old Immigrant: Old immigrants were those who came earlier, mostly from northern and western Europe (e.g., Ireland, Germany, England).
What is a tenement? Where were most of the tenements located?
A tenement is a crowded, often poorly built apartment building, typically in urban areas, where many poor immigrant families lived. Most tenements were located in cities like New York and Chicago.
How did the government attempt to regulate immigration in America?
The U.S. government tried to regulate immigration through laws like the Chinese Exclusion Act (1882), the Immigration Act of 1891, and the Immigration Act of 1924, which limited the number of immigrants and excluded certain nationalities.
What is a nativist? What was their belief? Give one example of nativism.
A nativist is someone who believes that native-born Americans are superior to immigrants and should have more rights. Nativists opposed immigration and wanted to restrict it. An example is the American Protective Association (APA), which promoted anti-immigrant policies in the late 19th century.
What is child labor? Why was child labor common?
Child labor refers to the exploitation of children in work, often in factories, mines, or farms. It was common due to the need for cheap labor and the lack of laws to protect children.
What is the Gilded Age? What are the origins of this term?
The Gilded Age (1870s–1900) refers to a period of rapid industrialization, economic growth, and widespread corruption in the U.S. The term, coined by Mark Twain, suggests that while the era seemed prosperous on the outside, it was corrupt and exploitative beneath the surface.
What is a robber baron? Why were some business leaders called robber barons?
A robber baron was a term used to describe unscrupulous business leaders who used exploitative practices to amass wealth. They were called “robber barons” because they were seen as taking advantage of workers and the public for personal gain.
What is philanthropy? Who were some of the famous philanthropists?
Philanthropy is the act of donating money or resources to charitable causes. Famous philanthropists include Andrew Carnegie, John D. Rockefeller, and Henry Ford, who donated large portions of their wealth to education, healthcare, and other social causes.
