1. Big Businesses and Big Cities

2. What was the purpose of the oil cup?
Kept trains and other machines running longer by dripping oil over moving parts
Record player
Define phonograph.

4. What were some of the benefits of Edison’s light bulbs?
cleaner
safer
brighter
People saved time by typing instead of writing
Telephones allowed instant communication
In what ways did the inventions of the late 1800’s save time?

5. What product did Andrew Carnegie manufacture?
Steel rails for railways
What company did John D. Rockefeller own?
Standard Oil Company

6. A business in which many people own parts of the business.
Define corporation.
A business in which many people own parts of the business.
Define profit.
The money earned by a business after all the costs of machinery, workers and raw materials are paid.

7. Why did Standard Oil buy other oil companies?
To reduce competition
Define competition.
More than one business tries to sell the same goods or service

8. Define monopoly. (NOT THE GAME!)
A company that has no competition
Define philanthropist.
A person who gives money to projects that help other people.

9. Why did Andrew Carnegie and Rockefeller practice philanthropy?
Thy thought wealthy people should use some of their money for a good cause.