Steel
iron
What did they call black gold?
Oil
Who used the technique of alternating current?
George Westinghouse
What is a business owned by investors?
Corporation
Because Carnegie controlled every step of the production process, he was able to?
Keep the cost of steel low.
Who created the furnace for melting steel?
Henry Bessemer
Who first found oil in Pennsylvania?
Edwin Drake
What did Madame C J Walker do?
Sell shampoo and toiletries door to door.
A share or shares in a company sold to investors are called?
Stock
What transported goods across the country, creating larger markets for producers of goods?
Railroads
This entrepreneur saw the potential for strong market for steel and used Bessemer's process to sell steel.
Andrew Carnegie
Where was the first oil refinery?
Cleveland, Ohio
What was the name of the newspaper made by William Randolph Hearst?
New York Journal
A system where people are free to start their own business and own property?
Free Enterprise
How did the rise of big business change the United States?
Led people to work in factories rather than farms. Led people to move to the cities. It attracted immigrants.
How was Bessemer's invention helpful to the production of steel?
The process allowed steel to be made stronger at a affordable cost.
Who started Standard Oil?
John. R Rockefeller
A person who buys or uses goods and services?
Consumer
A company that has control of an entire industry?
Monopoly
What type of resource are people/workers?
Human
How did Carnegie's control of the production process allow him to produce steel at a lower cost?
He did not have to pay high prices for the raw materials and shipping due to his control/involvement with them.
What is meant by saying Standard Oil had become a monopoly?
It controlled the entire oil industry
What changes did William Randolph Hearst make to make newspapers more interesting?
Headlines, illustrations, and color.
Farmers and immigrants moved to the city for ?
Jobs, work, to earn money
What type of resource are tools are machine?
Capital