Industrialists Inventions Vocabulary Industrialization Etc 100 100 100
Industrialists Inventions Vocabulary Industrialization Etc… 100 100 100 200 200 200 300 300 300 400 400 400 500 500 500
Who is associated with the steel industry?
Andrew Carnegie
Who was most associated with the oil industry?
J D Rockefeller
Who used the assembly line process to mass produce automobiles?
Henry Ford
What is the belief that those who acquire great wealth are morally responsible to help others?
Gospel of Wealth
What is the major problem with monopolies?
Reducing Competition
What is the economic theory that means government should not interfere?
Laissez Faire
What title was given to wealthy industrialists who exploited labor and used illegal practices?
Robber Barons
What are apartment buildings that often housed immigrants?
Tenements
What is a legal arrangement in which a board of trustees consolidates the voting of stock of different companies ?
Trusts
What is one group’s exclusive control of the means of producing or selling a product or service?
Monopoly
What is the process that revolutionized the steel industry? ?
Bessemer Process
What term means the large-scale public systems, services, and facilities of a country or region that are necessary for economic activity, including power and water supplies, public transportation, telecommunications, roads, and schools?
infrastructure
What is needed to build infrastructure in a country? ?
Steel (railroads, bridges, etc. )
• Who started the process of making steel with a faster process which revolutionized the industry and reduced costs and the need for labor?
Henry Bessemer
Along with the lightbulb, what other invention helped in that discovery?
Electric Generator Engine
What organizational strategy did Carnegie use to control production and distribution to create efficiency and profit?
• Vertical Integration
In reaction to restrictions on business, Rockefeller reorganized his business how?
Setting up a board of trustees
What is industrialization?
Machine made products (factories)
What was the purpose of a trust?
To control prices
Who is associated with banking? What is needed to ratify an amendment to the US Constitution?
JP Morgan
Who is associated with transportation?
Cornelius Vanderbilt
What filament finally worked for Edison to make the light bulb work?
Cardboard (carbon)
What positive terms were used to describe the industrialists of the late 1800 s?
Captains of Industry
What man went into the slums of New York and took pictures of horrible city life?
Jacob Riis
What is horizontal integration?
Owning all of the businesses of a particular product
- Slides: 51
