3.  Create an invention or innovation that will make school easier for you. Explain how this invention works and why it would help you

4.  An innovation or invention that would make school easier would be a…….

5.  A period of time between 1840 and 1920 in which goods were made by machine

7.  Model T  Increased production  Cheaper products  Higher profits

8. Groups Advantages of the Assembly Line Disadvantages of the Assembly Line Factory Owners Factory Workers Consumer s

9. Groups Advantages of the Assembly Line Disadvantages of the Assembly Line Factory Owners Profits High Costs Factory Workers Jobs with pay Dangerous conditions Low pay Long hours Consumer s cheaper goods Large supply Inferior quality compared to hand made goods

11.  Gives inventor sole legal right to make or sell an invention

14.  Edison Electric Light Company  Phonograph  Movie maker

15.  Bell Telephone Company

16.  Edwin Drake  lubrication for machinery  gas for cars

17.  Elias Howe  Increased garment production

19.  Andrew Carnegie  Faster, cheaper way to produce steel  Stronger bridges, taller buildings, jobs

20. 1.What happened to the number of non-agricultural workers between 1870 and 1920? 2. What factors may have contributed to the rise in industrial or factory workers during this time?

25.  Businesses are privately owned rather than being controlled by the government

26.  Provide funds to build railroads, factories  Put money into new inventions and scientific research

27.  Large companies that rely on stock holders to provide capital  In return, stock holders receive a piece of ownership in the form of stock certificates, voting power, dividends

28.  A single corporation that dominates industry by eliminating competition

29.  Competing companies join together to crush competitors  By 1904, 319 trusts swallowed 5,000 smaller businesses.

30.  Building a monopoly by buying out competitiors

31.  Building a monopoly by buying out suppliers.  Carnegie bought coal mines and railroads to help his steel co.

32.  Sherman Anti-Trust Act (1890)  law was not enforced initially

33.  Government should not interfere in business  Limit regulation and oversight

34.  Politicians took bribes and passed laws that favored big business over workers

35.  Taxes on foreign goods  Protect American businesses  Encourage the purchase of American made goods by making (imports) more expensive

36.  Gave railroads millions of dollars worth of land  Sold natural resources such as forests and minerals at very low prices

37.  Discouraged government regulation of business  Best run businesses would survive and prosper  Gov’t should leave business alone to succeed or fail on their own

40.  Industrialists who gained wealth at the expense of the workers

41.  Industrialists lived “glittering” lives while the poor struggled  Mark Twain

45.  Standard Oil  Richest Man in history

46.  Scottish Immigrant  “Rags to Riches”  Pennsylvania Steel

47.  Banker  Financed Alexander Bell, Edison  Railroad Owner

48. Industrialist nameRobber Barons Captain of Industry and philanthropist John D. Rockefeller Andrew Carnegie J.P Morgan

49. “You can’t compete with (Rockefeller”…If you refuse to sell, you will end up being crushed”

50. “I believe the power to make money is a gift from God…to be developed and used to the best of our ability for the good of mankind” -John D. Rockefeller

51. “rich people have a duty to improve mankind” - Andrew Carnegie

52. “Carnegie believed it was contrary to the “laws of civilization” to pay workers more than the minimum they needed. To pay workers more than they needed was to “encourage the slothful, the drunken and unworthy.”

53.  Well, I don’t know as I want a lawyer to tell me what I cannot do. I hire him to tell me how to [get around the law so I can] do what I want to do. —J. P. Morgan, banking industrialist

61. Pros’ Con’s  new ideas and inventions  jobs for millions  Improved standard of living for everyone  Destroyed small businesses  Kept wages low  Destroyed natural resources and hurt environment  Government corruption