Vocabulary
Economic system that has private ownership of businesses
What is capitalism?
America's economic system
What is capitalism?
This act broke up trusts (monopolies) in America.
What is the Sherman Antitrust Act?
Who invented the telephone?
Who was Alexander Graham Bell?
This railroad connected the east and west coasts of America.
What is the Transcontinental Railroad?
Protects an inventor from others copying the work
What is a patent?
The product that the Bessemer System produced
What is steel?
They fought for better pay, hours and working conditions for workers.
What are labor unions?
It is when workers organize and negotiate in large groups.
What is collective bargaining?
There were places that the American government forced Native Americans to live after the Civil War.
What were reservations?
An issue or problem a society has faced over time
What is an enduring issue?
The percentage of the oil industry owned by John D. Rockefeller
What is 90%?
He invented the light bulb.
Who was Thomas Edison?
This was a book that helped factory managers make their factories more efficient.
What is Principals of Scientific Management?
He assassinated President Lincoln.
Who was John Wilkes Booth?
A situation where one company owns all of the companies in the industry (Standard Oil)
What is horizontal integration?
The belief that the smartest and hardest working will make there way to the top
What is social Darwinism?
What is the owner of a business called?
What is an entrepreneur?
When a person owns a small part of a company the person probably owns what?
What is stock?
This was a new type of ship that was developed during the Civil War. (Monitor)
What is a ironclad?
A system when a company owns all of the steps of production (Carnegie steel)
Vertical integration
A period in American history when manufacturing in factories increased
What is the Second Industrial Revolution?
They invented the airplane.
Who are the Wright Brothers?
He was largely responsible for the development of the steel industry.
Who was Andrew Carnegie?
This act gave people 160 acres of land if they agreed to move out west for at least five years.
What is the Homestead Act?