People
Inventor of the Telephone:
Alexander Graham Bell
Before people harvested oil from the ground where did they originally obtain it from?
Whales
The best run businesses with the most capable people would survive & prosper
Social Darwinism
When someone sells shares of their company to gain money for their business. (Creates shareholders) Considered separate from the original owner.
Corporation
Own all of an industry (or a huge portion)
Monopoly
Inventor of the light bulb and built the first general power station in New York City
Thomas Edison
This process (or press) made created steel much faster and cheaper:
Bessemer press or process
Outlaws monopolies, trusts, and other forms of restricted trade
Sherman Antitrust Act
system where the government and market have some say in the economy
mixed economy
A small group (trustees) owns multiple companies and stops competition between them
trusts/pools
airplane
This piece of technology used Morse code to communicate:
telegraph
Gained their money by abusing the system, using others, and held it over everyone
Robber Barons
system where only the government has some say in the economy
planned economy
Supporters of technology, smart men who took advantage of technology & circumstances
Captains of Industry
Rockefeller had a monopoly in this industry:
Oil
This transportation technology was introduced to the US in the early 1900s and benefited greatly from new oil technology:
cars/ automobiles
Risk-takers who started new businesses & succeeded (Social Darwinism)
Entrepreneurs
system where only the market has some say in the economy
market economy
A parent corporation that owns enough voting stock in another corporation to control its board of directors (ergo controls its policies and management)
Holding Company
Henry Ford created the _____________ which would help the in the mass production of products.
assembly line
What idea (built by Thomas Edison) was copied by large cities all across the US.
Power Station
When a person donates large sums of money to worthy causes: education, public works, public buildings
Philanthropist
a "hands off" approach to handling the economy
Laissez-Faire
What two NFL teams always play on Thanksgiving?
Lions and Cowboys