Industrial Revolution
Organizing Business
New Inventions
Growth of Big Business
Government Tries to Control Business
100
The revolution was a change from making items by hand to making items by
What is machine
100
For many years businesses were owned by a person or a family but when two of more people joined own a business together it was called this.
What is a partnership
100
Thomas Edison was known for which two inventions?
What is light bulb and phonograph
100
A single company that tries to control an entire industry is a what?
What is monopoly
100
What two types of business did government try to control?
What is trusts and monopolies
200
The american economy is based on this or free enterprise where people keep the profits from their business
What is capitalism
200
This type of company raises money by selling shares
What is corporation
200
Wilbur and Orville Wright were brothers who invented this in 1903.
What is airplane
200
A group of companies joined together to try and control an industry is known as what
What is a trust
200
The idea that the government should keep their hands out of business and not try to control business is known as this
What is laissez-faire
300
The United States was able to become an Industrial Nation because we had natural resources such as what
What is coal, iron and oil
300
Stocks and this are when people own a part of the corporation.
What is shares
300
This invention used oil to keep the parts of a train moving smoothly.
What is the lubricating cup
300
The trusts are run by a group of people called
What is the board of directors
300
The government created the Interstate Commerce Act to do what?
What is prevent unfair railroad rates
400
Natural resources were important during the Industrial Revolution because they were needed to do what?
What is develop the steel, oil and railroad industries.
400
If you own stock in a corporation and the corporation fails the shareholder does not lose more money than what they paid for the stock. But if the price of the stock rises the shareholders can sell their stocks for a
What is profit
400
This invention made it possible to build tall skyscrapers by doing what?
What is Bessemer process, change iron into steel
400
These three men were very powerful leaders of big business.
What is Vanderbilt, Carnegie and Rockefeller
400
The purpose of the Sherman Antitrust Act was to
What is make monopolies and trusts illegal
500
The growth of industry led to 2 new ways of selling products. What were they and give an example of one
What is department stores and mail order companies.
500
What are the two problems with partnerships
What is If it failed the owners had to pay all the debt and they couldn't raise enough money to build a large business
500
The invention of this allowed for the steam boat and the steam powered train
What is steam engine
500
This man was responsible for controlling much of the railroad industry.
What is John D. Rockerfeller
500
Why did members of Congress try to limit the power of big business and how did they do it?
What is they wanted to limit the power because they were controlling the industries. They tried to limit the power by creating the Interstate commerce act and the Sherman Antitrust act. The ICA tried to prevent unfair railroad rates,and the Sherman Antitrust act made monopolies and trusts illegal
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