Entrepreneurs and Inventors
He was the inventor of the telephone.
Who was Alexander Graham Bell?
The first was completed in 1869, connecting the East and West Coasts and drastically reducing travel time.
What was the transcontinental railroad?
This is an economic system in which people and businesses can buy and sell what they want at prices determined by supply and demand.
What is the free enterprise system or capitalism?
This in French means "let do" and is the belief that government should not intervene in the economy.
What is laissez-faire?
This is a group of workers who team up to more successfully win concessions from management.
What is a union?
He invented the electric light bulb, phonograph, and early motion pictures.
Who was Thomas Edison?
Name the 2 main groups of immigrants to the U.S who helped build the railroad?
Chinese and Irish
The way a country makes and spends money?
Economy
This is an economic system where all property is publicly owned and each works according to their abilities (opposite of capitalism).
What is communism?
This is when workers stop working in order to force business owners to give in to their demands.
What is a strike?
He was a Scottish immigrant who became one of America's richest men after founding a steel corporation.
Who was Andrew Carnegie?
The railroad system lead to the development of what? there are four across the country?
What are time zones
This occurs when a company has almost complete control over the supply of a product or service- with very little competition.
What is a monopoly?
This philosophy was based on the evolutionary theory "survival of the fittest" and argued that the rich were superior to the poor.
What is social darwinism?
a business producing or selling a product
business
He was America's richest man after establishing a monopoly on oil refining with his Standard Oil Company.
Who was John D. Rockefeller?
This law prohibited unfair practices by railroads, such as charging more for shorter routes than for longer routes.
What was the 1887 Interstate Commerce Act?
This is a type of business chartered by a state. This business can then sell shares of stock to raise money to increase production and sales.
What is a corporation?
This is the act of "charitable giving"- providing aid or money to those in need.
What is philanthropy?
To change or re do
Reform
This new development from Britain was adopted by Carnegie in order to produce vast amounts of high quality steel at lower costs.
What was the Bessemer process?
The railroad led to the fast decline of this system of delivering mail on horseback?
What is th4e Pony Express
This is the negative term given to businessmen of the Gilded Age who critics saw as too powerful and ruthless in their practices.
What are Robber Barons?
The dislike of others from different countries?
Nativism
journalist who wrote about the bad parts of society
Muckracker