the growth of the railroad
How much did the railroad grow in a day between 1870 and 1916?
11 miles
How many inventions or patents were created between 1860 and 1890?
400,000 inventions/patents were created.
What is a corporation?
A business that has separate owners who all pool their resources to create said business
What is a monopoly?
total control of the market
How many hours were people expected to work?
10 to 12 hours
The practice of combining different companies into one is ________.
consolidation
What is a telegram?
a device that can send long messages
What is land?
the resources, and the area itself
Who was the first monopolist?
Rockefeller
What were the issues with working in the factories?
no safety, long hours, and bad pay
What industry grew as a result of the trains?
iron, steel, and coal
What did Alexander Graham invent?
the telephone
Who are Entrepreneurs?
people who start businesses
What business did Andrew Carnegie go into?
Steel
How much did women make compared to men?
Two-thirds of what men made
Name the four inventors who improved the railroads?
George Westinghouse, Eli H. Janney, Gustavus, George Pullman
What inventions did Edison invent?
The light bulb and the phonograph
What is Capital?
are things that make goods, such as machines, buildings, or tools
What did millionaires often do with their money?
Give to charities of their choosing
What are unions?
a collection of workers to organize and speak out against certain businesses
Who was the greatest railroad baron?
Cornelius Vanderbilt
What did Ford do for the automobile industry?
make cars cheaper
What are the factors of production?
land, labor, capital, and entrepreneurship
What act made trusts and monopolies illegal?
the Sherman Antitrust act
How did unions fight against big businesses?
through strikes, or collective bargaining