Lesson 1: 2nd Industrial Revolution
Second Industrial Revolution
corporations
Workers often went on _______ when fighting for rights.
strike
New engine technology made the production of the __________ possible in 1903.
Airplane
Wright Brothers
Airplane
What was the Bessemer Process created for?
To manufacture steel quickly and cheaply
Ownership of businesses involved in each step of the manufacturing process is known as ____________ integration.
Vertical
What was the first national labor union?
Knights of Labor
______________ made his money through the consolidation of oil businesses.
John D. Rockefeller
Alexander Graham Bell
Telephone
Kerosene - Lamps
Stockholders in corporations are not responsible for the businesses __________.
debt
Describe one major labor strike to occur during the Second Industrial Revolution
Pullman
Homestead
Haymarket
a legal arrangement grouping together a number of companies under a single board of directors
trust
Thomas Edison
Electricity
How was Henry Ford able to make the Model T more affordable?
Increased productivity and efficiency. Moving assembly line and interchangeable parts.
Movement started by those concerned about the creation of monopolies in business.
Antitrust Movement
Describe collective bargaining.
all workers acting collectively when negotiating with management.
Owning all the businesses in a certain field is an example of the ________ integration.
Horizantal
Henry Bessemer
List two factors that led to industrial growth.
-greater access to natural resources
-a growing population
-transportation advances
-rising immigration
-inventions and innovations
-increasing business investment
-government policies assisting businesses
How was social darwinism used to justify the methods of big business owners?
"Survival of the fittest" theory decided which human beings would succeed in business and life in general.
List two factors that led to the decline in working conditions.
-skilled workers replaced with unskilled
-repeating the same small tasks over and over
An exclusive right to make or sell inventions.
Pantent
Edwin L. Drake
Oil Drilling