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10 Point 10 Point 10 Point 10 Point 10 Point 10 Point 20 Points People Capitalism Or Communism Economic Terms Organized Labor Economic Terms II Misc. 10 Point 10 Point 10 Point 10 Point 10 Point 10 Point 20 Points 20 Points 20 Points 20 Points 20 Points 20 Points 30 Points 30 Points 30 Points 30 Points 30 Points 30 Points 40 Points 40 Points 40 Points 40 Points 40 Points 40 Points 50 Points 50 Points 50 Points 50 Points 50 Points 50 Points
Known as the father of communism, he wanted a classless society in which the government controlled the economy.
Who is Karl Marx?
Invented the telephone.
Who is Alexander Graham Bell?
Invented the light bulb.
Who is Thomas Edison?
He wrote about the invisible hand, preaching that self-interest is the key to an effective economy.
Who is Adam Smith?
The owner of Standard Oil, he used horizontal integration to buy out his competition, becoming one of the wealthiest me in the US.
Who is John D. Rockefeller?
The free market.
What is capitalism?
Supply and demand determine prices.
What is capitalism?
Environmental regulations on businesses.
What is communism?
The minimum wage.
What is the communism?
Laissez faire.
What is capitalism?
A person who takes a risk by opening a business or investing in a corporation.
Who is an entrepreneur?
Ownership in a corporation.
What is stock?
Mortgages, loans, and taxes are examples of what?
What are fixed costs?
Buying out the competition
What is horizontal integration?
The total dollar amount of goods and services produced within a given year.
gross domestic product or gross national product? What is gross domestic product or gross national product?
An organization of workers that negotiates for improved working conditions.
What is a union?
Thugs hired to break-up protests and demonstrations by union workers.
Who are strikebreakers?
The firing of workers who attempted to organize workers, and the distribution of their names to potential employers.
What is blacklisting
When workers are not permitted to enter the factory; fired; and new workers are hired to replace them.
What is a lockout?
When a third party attempts to negotiate a solution between the business and the workers.
What is arbitration?
The buying and selling of ownership in companies.
What is the stock market?
Term for a company that becomes dominant in its own industry, eliminating the possibility for competition.
What is a monopoly?
When competitors get together and determine the price of goods – these are illegal.
What are pools?
Purchasing companies that your business is dependent upon in order to cut costs and maximize profits.
What is vertical integration?
A rare condition in which the value of money INCREASES – giving people more purchasing power.
What is deflation?
This network was a large contributor to America’s Industrialization, as it expanded markets.
What is the Transcontinental Railroad
The largest labor protest in the nations history at its occurrence, it involved 80,000 workers in 11 states.
What was the Great Railroad Strike of 1877?
The Transcontinental Railroad led to the creation of these for more efficient transport.
What are time zones?
Wages, shipping materials, utilities, maintence, etc Wages, shipping materials, utilities, maintence, etc., are examples of this.
What are operating costs?
The owner of US Steel, he used vertical integration to become one of the wealthiest entrepreneurs in US History.
Who is Andrew Carnegie?
Final Jeopardy Make your wager
Three things that unions demanded during the Era of Industrialization.
What was an end to child labor, an 8 hour work day, a 60 hour work week, overtime pay, safer factory conditions, etc.