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Vocabulary
Vocabulary
1
2
Bonus
100
"Let people do as they choose"
laissez-faire
100
__________ brakes enabled longer & heavier trains
Air brakes
100
Because of a shortage of workers in California, the Central Pacific Railroad hired workers from ________________
China
100
Laissez-faire relies on __________ to regulate prices & wages
supply & demand
100
A ___________ was a technique for breaking a union in which the company refused to allow the workers on the property & refused to pay them
Lockout
200
Wages, shipping charges, & supplies are examples of __________ costs
Operating costs
200
___________ costs are loans, mortgages, & taxes
Fixed costs
200
The gov't offered each railroad company building the transcontinental railroad land along its right-of-way to_________
encourage rapid construction of the tracks
200
Petroleum was in high demand before the automobile because it could be turned into __________
kerosene
200
Supporters of laissez-faire believed the gov't should interfere in the economy only to protect ____________ & maintain peace.
protect property rights
300
Knights of Labor is an example of an _________ union
Industrial Union
300
Iron Molders' International Union is an example of a ____________ union
Trade union
300
Railroad companies raised most oft he money they needed to build their railroads from ___________
Selling government land grants
300
Economies of scale resulted in _________ costs & ________prices
lower;lower
300
Who drilled the first oil well?
Edwin Drake
400
When someone manages property for others it is a ______________
Trust
400
The ___________________ Act began the railroad boom
Pacific Railway Act
400
During early Industrialization, Congress believed that tariffs were necessary to __________________________
Help American industries compete with European industries
400
The following flow chart is an example of _____________ integration Cattle-->Slaughterhouse-->Meat Packing Plants-->Ace Meat Industries
Vertical
400
Who said "The basic force shaping capitalism is the class struggle between workers & owners"
Karl Marx
500
This changed bobbins without stopping
Northrop automatic loom
500
A _________ company owns stock of companies that produce goods
Holding company
500
Corporations can achieve economies of scale by
Investing in more machines & larger manufacturing facilities
500
In the late 1800s, workers' buying power generally increased because ________ fell faster than wages
prices
500
Who founded a steel company in Pittsburgh
Andrew Carnagie