What was the second Ind. Rev?
The Period of rapid growth inn the late 1800s
What was the Bessemer Process?
A way to manufacture steel quickly and cheaply
Was the Railroad Industry the biggest employer in the country?
True
When did using oil as a fuel become popular?
The late 1800s
How many products are made from oil today?
More than 6,000
What did Thomas Edison invent?
A durable electric lightbulb
What did George Westinghouse build?
A power system that could send electricity across many miles
Who patented the telephone?
Alexander Grahm Bell
What did Henry Ford invent?
The moving Assembly line
What is a Corporation?
A profit business that sells portions of ownership called stocks or shares
What is Vertical Integration?
Ownership of business involved in each step of a manufacturing process
What is Horizontal Integration?
Owning all the business in a certain field
What is a trust?
A legal arrangement grouping together a number of companies under a single board of directors
What was social Darwinism used to do?
It was used to justify bad business, oppression, and racism
When competition went down what did prices do?
They went up
What were the effects of bad business?
Child labor, low wages, poor working conditions, and long workdays
What is a monopoly?
Total ownership of a product or industry
Without competition what would businesses do?
Raise the price on goods and services
What did the Sherman Antitrust Act do?
Made it illegal to create monopolies or trusts that restrained trade
What were the characteristics of Old immigrants?
Usually from Northern and Western Europe, similar customs, lived in the Midwest
What were the characteristics of New immigrants?
Usually from Southern and Eastern Europe, different customs, unskilled
What were the push factors of Europe?
Poverty, oppression, war, religious prosecution
What were the pull factors of the U.S?
Democracy, jobs, cheap land, religious freedom
