Industrial Revolution
What term describes legal protection that gives an inventor the right to control and profit from their invention for a limited time?
Patent
Who is credited with inventing and patenting the telephone?
Alexander Graham Bell
What negative term described wealthy industrialists accused of gaining wealth through unfair business practices?
Robber Baron
What is an organization of workers that come together to seek better wages, hours, and working conditions called?
Labor Unions
What economic system is based on private ownership, competition, and profit?
Capitalism
What industrial period was driven by steel, electricity, oil, and railroads?
Second Industrial Revolution
What inventor is associated with the practical incandescent light bulb and phonograph?
Thomas Edison
What company, founded by John D. Rockefeller, dominated the U.S. oil industry?
Standard Oil
What is it called when workers refuse to work to pressure an employer?
Strike
What belief applied “survival of the fittest” to human society and economic success?
Social Darwinism
Cheaper steel helped lead to the rapid construction of what two major things that led to urbanization?
Railroads & skyscrapers
$300: What entrepreneur became successful by creating and selling hair-care products for Black women?
Madam C. J. Walker
What business arrangement combines several companies under one small group of companies to reduce competition?
Trust
Why did the Haymarket Affair hurt public support for the labor movement?
A bomb was thrown and the event became associated with violence.
What economic system supports greater public or worker control of major industries and resources?
Socialism
What industrial period was driven largely by textiles, steam power, and early factories?
First Industrial Revolution
What inventor developed an early traffic signal and improved the safety hood?
Garrett Morgan
What 1890 law attempted to limit monopolies and trusts?
Sherman Antitrust Act
What labor organization tried to unite skilled and unskilled workers?
Knights of Labor
What ideology opposes government authority and seeks a society without government?
Anarchism
Name BOTH of the railroad industrialists that led to the transformation of Florida AND identify which side of Florida each developed (East or West.)
Henry Plant (West Coast)
Henry Flagler (East Coast)
What inventor helped develop the alternating current (AC) electrical system?
Nikola Tesla
What economic idea says government should interfere as little as possible with businesses and markets?
Laissez-faire Economics
What 1894 railroad strike began at a company town near Chicago and was led by Eugene V. Debs?
Pullman Strike
Describe one similarity and one difference between socialism and communism.
Similarity: Both support collective/public control of resources or major industries.
Difference: Socialism can allow some private ownership, while communism seeks collective ownership and the elimination of economic classes.