Business Practices
This is what it's called when one or more companies come together to form one
What is a merger?
This man is known for his 8 hour work day and introduction of the assembly line
Who is Henry Ford?
Thomas Alva Edison invented this
What is the lightbulb?
This is when workers refuse to work
What is a strike?
This Act made it illegal to form a trust that interfered with free trade between states
What is the Sherman Antitrust Act?
These factories, where children only made 27 Cents a per day, required very few skills and were tedious
What are sweatshops?
Carnegie was best known for dominating this industry
What was the steel industry?
A by product in the production of oil was
What is gasoline?
This is a form of a labor organization where skilled workers from one or more trades
What is craft unionism?
This man was known as the father of socialism
Who is Karl Marx?
This is a type of company that was formed just to buy stocks of other companies
What is a holding company?
This was the name of the man who created a town for the people of his business.
Who is Pullman?
This took the carbon out of iron by shooting hot air into molten iron
What is the Bessemmer Process?
The first labor union in the country was this
What is the National Labor Union?
A man successful business man who engaged in many philanthropic practices and was respected by fellow businessmen was called
When forming these, participants turned their stock over to a group of trustees.
What are trusts?
This man owned 90% of the oil industry by 1880
Who is John D. Rockefeller?
Edwin Drake invented this to drill oil from the earth
What is the steam engine?
These two things drew workers together to form unions
What are unsafe working conditions and exploitation?
This is an economic and political system is based on government control of businesses and property and equal distribution of wealth
What is socialism?
This was formed when a company would buy out all its competitors or have most or all power in the industry.
What is a monopoly?
This man was one of the most successful in using holding companies to become rich
Who is J.P. Morgan?
This man invented the telephone
Who is Alexander Graham Bell?
This was the motto of the first labor union
What is “an injury to one is a concern to all"?
This many people died per week working in factories in 1882
What is 675 per day?