People
United States Manufacturer of automobiles who pioneered mass production
Henry Ford
Complete control of a product or business by one person or group.
Monopoly
Late 1800s to Early 1900s - a time of large increase in wealth caused by industrialization
Gilded Age
An organization of workers that tries to improve working conditions, wages and benefits for its members.
Labor Union
A critical term used for some powerful business leaders of the era.
Robber Barons
A Scottish-born American Industrialist who founded the Carnegie Steel Company
Andrew Carnegie
A business owned by stockholders who share in the profits but not in the debt of the company.
Corporation
A person involved in the ownership and management of industry - what are they called?
Industrialist
Government intervention to alter market structure or prevent abuse of market power.
Antitrust
Merging smaller railroads into larger companies.
Railroad Consolidation
An American Industrialist who revolutionized the petroleum industry (Oil)
John D. Rockefeller
The development of industries for machine production of goods.
Industrialization
Type of Monopoly where a company buys out all of its competition.
Horizontal Integration
Period of political and social reform that lasted roughly from the 1890s to 1920s.
Progressive Era
John D Rockefeller's company that gained a monopoly over the world's petroleum market.
Standard Oil
United States Financier who grew his wealth from railroads and shipping.
Cornelius Vanderbilt
A group of corporations run by a single board of directors
Trust
Factors that cause a producer's average cost per unit to fall as output rises.
Economies of Scale
1887 Law passed to regulate railroad and other interstate business.
Interstate Commerce Act
Steel giant that dominated the industry. Was run by rags to riches legend Andrew Canegie.
Carnegie Steel
An influential banker and businessman who bought and reorganized companies. (US Steel being one)
J.P. Morgan
An increase in the percentage of and in the number of people living in an urban settlement.
Urbanization
An economic system based on private property and free enterprise.
Capitalism
First Federal action monopolies, it was signed into law by Harrison and was extensively used by Theodore Roosevelt for trust-busting.
Sherman Antitrust Act - 1890
The largest steel company of the United States. Was a combination of Carnegie Steel of other smaller steel companies.
US Steel