Labor Union
Laborers formed ________________ because they wanted safer working environments, better pay, and vacation days, and it was
easier to negotiate with employers as a group than individually.
Unions
Whale oil was the primary source for kerosene until the 1860s when it was discovered that kerosene could be distilled from ______
Petroleum
Business owners like Carnegie and Rockefeller became wealthy by creating these? (Controlled prices, production, and goods)
Monopoly
Those who believed in this, thought that only the fittest should survive, so they did not support government assistance.
Social darwinism
________________ ________________ happens when businesses in the same industry merge together to form one larger
business.
Horizontal integration
In 1890, the U.S. government outlawed ________________, which prevented businesses from forming a partnership in order to
take control of their industry.
Trusts
Both government and private businesses provided ________________ ________________ to railroad companies so they could
continue to grow and operate.
Capital investments
Some of the wealthiest Americans, like Cornelius Vanderbilt and Jay Gould, did not donate to charitable causes, and they were
called ________________ ________________.
Robber barons
Two _______ occurred in 1873 and 1893 which resulted in thousands of businesses and banks going bankrupt.
Depressions
Carnegie used ________________ ________________ to increase his profits. He bought iron mines for the raw materials, his
company produced steel, and he owned the railroad companies that transported his products.
Vertical integration
Some people did not agree with ________________, or allowing the market to be laissez-faire. These ________________ wanted
the government to own all industries and share the profits among those who created the goods.
Capitalism
Socialists
Which of the following was one influence of the railroad industry?
a. The demand for oil decreased because most trains used a steam engine.
b. The growth of small towns slowed because railroad tracks were mainly built near large cities.
c. There were few monopolies because several businesses were in the railroad industry.
d. Time zones were established so places in the same zone would be on the same time.
d. Time zones were established so places in the same zone would be on the same time.
Which of the following was one effect of the Gospel of Wealth?
a. Many Americans believed they could become wealthy if they worked hard enough.
b. The United States became known as the nation of dreams.
c. Philanthropy began, and some of America’s wealthy began to donate money to charitable causes.
d. Many Americans began to invest their money in the stock market in order to become wealthy.
c. Philanthropy began, and some of America’s wealthy began to donate money to charitable causes.
The Gospel of Wealth encouraged wealthy people to be ________________ and share their fortune by donating money to
charitable causes.
Philanthropists
The Gilded Age was a time of continued ________________ of the U.S. economy and increased ________________ as cities
expanded and became more populated.
Industrialization
Urbanization
In what ways did the American Federation of Labor differed from the Knights of Labor.
a. The AFL supported capitalism, and the KOL did not support capitalism.
b. The AFL was organized by craft, while the KOL was organized by geographic regions.
c. The AFL supported extreme ideas, but the KOL avoided extreme ideas.
d. The AFL was involved in violent protests such as the Haymarket Riot, while the KOL avoided protesting.
a. The AFL supported capitalism, and the KOL did not support capitalism.
b. The AFL was organized by craft, while the KOL was organized by geographic regions.
What is the relationship between the railroad companies and the oil industry?
Answers vary
What are 3 reasons that Labor unions exist?
Low wages
child labor
unsafe conditions
no workers comp
collective bargaining