People
Who was Andrew Carnegie?
A business leader who concentrated his efforts on steel production
Who invented the Light Bulb?
Thomas Edison
What was the Second Industrial Revolution?
a period of rapid growth in U.S. manufacturing in the late 1800s which was characterized by advances in technology
What was collective bargaining?
workers acting together for better wages or working conditions
What were the Knights of Labor?
a large labor union that included both skilled and unskilled workers; the first national labor union in America
Who was John D. Rockfeller?
a business leader who concentrated on oil refining
Who invented the Telephone?
Alexander Graham Bell
What is a Corporation?
businesses that sell portions of ownership called stock shares
What was having total ownership of a product or service?
a Monopoly
What was the Labor Union that organized individual national unions of skilled workers, making a Union with all of the different types of labor Unions?
American Federation of Labor
Who was Samuel Gompers?
the leader of the American Federation of Labor Union
Who were the brothers who made the first piloted flight in a gas-powered airplane?
Wilbur and Orville Wright (Wright Brothers)
What is the business method of owning all businesses in a certain field?
Horizontal Integration
What is Social Darwinism?
the belief that Charles Darwin’s theory of natural selection and “survival of the fittest” holds true for humans and business
What was the Haymarket Riot?
a union protest in Chicago where strikers fought with police and a bomb was set off during the Riot
Who was Terrence V. Powderly?
the leader of the Knights of Labor Union
Who invented the first car, or the Model T?
Henry Ford
What is the business method of having ownership of businesses involved in each step of manufacturing?
Vertical Integration
What is a legal arrangement grouping together a number of companies under a single board of directors?
a Trust
What was the violent 1892 strike of Carnegie steelworkers ended by state militia?
Homestead Strike
Who was Mary Harris Jones?
an Irish immigrant who was a union supporter who organized strikes and educated workers
What was Henry Bessemer’s invention that was a way to manufacture steel quickly and cheaply?
The Bessemer Process
What is an exclusive right to make or sell an invention that encourages new inventions?
a Patent
What was the Sherman Antitrust Act?
a law passed in 1890 that made it illegal to create monopolies or trusts that restrained trade; it made little to no impact of monopolies or trusts
What was the Pullman Strike?
the strike of Pullman railroad workers that stopped traffic on many midwestern rail lines; it ended in 1894 when federal troops were sent to stop it