Vocabulary
A business that6 sells portions of ownership called stock shares.
What is Corporation?
Creator of the telephone?
What is Alexander Graham Bell?
A way to manufacture steel quickly and cheaply by blasting hot air through melted iron quickly remove impurities.
What is the Bessemer Process?
What are Horizontal and Vertical Integration?
Horiizontal Integration is owning all businesses in a certain field and vertical integration is ownership of business involved in each step of the manufacturing process.
This union accepted Unskilled workers, African Americans, and women.
What is the Knights of Labor?
A view of society based on Charles Darwin's Scientific theory of natural selection?
What is Social Darwinism?
Creator of the first light-weight airplane?
Who is Wilbur and Orville Wright?
An innovation of Henry Ford's that dramatically reduced the cost of production.
What is the Moving Assembly line?
What is the saying for Charles Darwin's belief in Social Darwinism?
"Survival of the Fittest"
This union is known to accept skilled workers like steelworkers and mineworkers.
What is the American Federation of Labor (AFL)
A number a companies legally grouped under a single board of directors?
What is Trust?
Creator of Standard Oil?
Who is John D. Rockefeller?
What problems did Thomas Edison face while electricity was being put in home?
Not all homes were able to access electricity, so he built his own Power Plant to ensure everybody was able to get it.
What business was Andrew Carnegie in?
Steel Business
How many people were sentenced to death as a result to the Haymarket Riot?
Police charged 8 people, 4 were hanged , one killed himself in jail and the last three were pardoned.
Owning all the businesses in a certain field?
What is Horizontal Integration?
He was the governor of California, founder of Central Pacific Railroad, founded Stanford University,argued that industries should be owned and managed cooperatively by workers.
Who is Leland Standford?
What was put in place before the telephone? This device carried only written messages and was difficult for untrained people to use.
What is the telegraph?
If I won a Candy shop and I have my own sugar farms, trucks for transportaion, and own my own shop. Is this Vertical or Horizontal ?
Vertical Integreation
What are the three events talked about in Lesson 3?
Homestead Strike, Haymarket Riot, and Pullman Strike.
A complete control over the entire supply of goods or a service in a particular market?
What is monopoly?
Author f the popular published book called The Principles of Scientific Management. Encourage managers to view employees as interchangeable parts.
Fredrick W. Taylor
How long was the first flight by Wilbur and Orville Wright?
12 Seconds
If I own a candy shop and I buy out my competitors. Is this veritical or Horizontal?
Horizontal
Why did workers use collective bargaining, and why did business owners oppose it?
Workers had a greater chance of success in negotiating with management. Most employers opposed it, One company president said, " I shall never give in. I would rather go out of business."