Vocabulary & Robber Barons
When one person/producer owns or has total control over an industry, this is called a ________________
Monopoly
When unions represent a group of workers in talks with managers over wages and other matters, this is called _________________________.
collective bargaining
This is a type of business organization that can have many owners and can grow very large.
corporation
I created the telephone.
Alexander Graham Bell
I developed the first Model T.
Henry Ford
This is what it is called when you combine several businesses into one.
merger
I am what it is called when kids work in a factory.
child labor
I start businesses to make a profit.
entrepreneur
The Model T is mine.
Henry Ford
I resulted in 150 deaths because of a fire in a building with locked doors.
Triangle Shirwaist Company fire
I used Horizontal Integration to build my Empire. This means I bought out, undersold, and bullied people into selling me their businesses or making them go bankrupt until I was the sole business tycoon in my field.
John D. Rockefeller
I am an organization of workers (skilled or unskilled) who seek better pay and working conditions. (non specific to any particular group)
labor unions
I am usually cash money that a shareholder receives from a corporation's profits.
dividends
I created the adding machine.
William Burroughs
I am called the "Wizard of Menlo Park"
Thomas Edison
I am a group of companies that are managed by a single board of trustees.
Trust
The age that children were allowed to work in factories based on child labor laws.
12 years old
When a person purchases me, they become a part owner in a corporation.
stock
I was an African American inventor and I joined Thomas Edison's company. I invented and refined the filiment for Thomas Edison's light bulb making it last longer.
Lewis Howard Latimer
I was created by the government to make monopolies and trusts illegal.
Sherman Antitrust Act
John D. Rockefeller started this oil company in 1870.
Standard Oil Company of Ohio
When workers from the McCormick Harvester Company went on strike in Chicago's Haymarket Square in May of 1886, a bomb gets detonated and kills several people which set off a riot. People began to associate Labor Unions with ________________.
Violence
I am what the government gives to a person who creates a new invention. This gives the inventor the sole right to make, use, and sell an invention without others copying it.
patent
I invented the small box camera the "Kodak".
George Eastman
I invented a mechanism for oiling machinery.
Elijah McCoy
My steel built the first skyscraper in Chicago, Illinois
Andrew Carnegie
I am a hot building in the summer and cold in the winter. People are often working for 12 hours a day in my space.
sweatshop
I invest in a corporation by buying stock and I am a parital owner in the business.
shareholder
I invented the typewriter
Christopher Sholes
I layed the first telegraph cable across the Atlantic Ocean.
Cyrus Field
I used Vertical Integration to build my Empire. I bought up businesses at all different stages and folded them into my business.
Andrew Carnegie
The Noble and Holy Order of the Knights of Labor (Knights of Labor) recruited these people for their Union: _____________________________________
women, African Americans, immigrants, and unskilled laborers.
As the second Factor of Production, ______________, I require large numbers of ____________________ to turn raw materials into goods.
Labor, workers
I invented the vacuum cleaner which simplified house cleaning.
John Thurman
I am an African American inventor and I developed a shoe-making machine that will revolutionize the shoe industry.
Jan E. Matzeliger
I am responsible for building what we know today as Grand Central Station in New York City.
Cornelius Vanderbilt
We are the people that a business hires to cross the strike line to do the job of those that are refusing to work.
strikebreakers
As the 3rd Factor of Production, I am ______________, or money. I am also _______________, _______________, ___________. (you are supposed to give some examples besides money)
Capital; machines, building, tools, etc.
I developed the "transformer" which could store and send electrical power cheaply over long distances, as well as many safety devices.
George Westinghouse
There are 3 Factors of Production.
1. Land
2. Labor
3. Capital
I try to give back to the communities in my world. Sometimes I do this by building libraries, concert halls, colleges, or even hospitals. I am known as ___________.
philanthropy/philanthropist
After the Homestead Strike in Pennsylvania, membership in the Steelworkers Union ___________.
dwindled.
As the 1st Factor of Production, Land does not just mean the land itself: It also means ________________ in and on it, Some examples include: ____________, ___________, ___________
the natural resources in and on it Ex: Oil, trees, water, gold, minerals, etc.
I was an African American electrical and mechanical engineer. I invented many things, including the electric incubator, and an improved braking system for railroads.
Granville Woods
Large Railroad companies would offer __________ to their largest customers in order to keep their business.
rebates