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