Vocabulary
What is Corporation?
The creator of the Bessemer Process
Who is Henry Bessemer?
What was significant about the Bessemer Process?
It was a way to manufacture steel more quickly and cheaply
What is the difference between Horizontal and Vertical Integration?
What role did Mary Harris Jones play in the labor movement?
dedicated herself to improving the lives pf workers
A complete control over the entire supply of goods or a serve in particular market.
What is Monopoly?
Creator of the telephone
What Problem did Thomas Edison run into when the US started to get electricity?
Not all buildings could access electricity
What is Charles Darwin's theory on Social Darwinism?
"Survival of the fittest"
What are the three events talked about in Lesson 3?
Haymarket riot, Homestead Strike, and Pullman Strike
The business practice of owning all of the business involved in each step of a manufacturing process?
What is Vertical Intergration?
Creator of light-weight Airplanes
Who is Wilbur and Orville Wright?
What problem did people have with the telegraph?
You had to be trained to use it, and if you weren't trained on it , it was very difficult to use.
What was the benefit of investing in corporations?
Stockholders in corporations typically get a percentage of profits based on the amount of stock they hold.
What is the difference between AFL and Knights of Labor?
Knights of Labor accepted Unskilled workers, women and African Americans. The AFL accepted skilled workers like mineworkers and steelworkers.
The owning all the business in certain field.
What is Horizontal Integration?
business succeeded largely through Vertical Integration. He produced more steel than all of Brittany's mills combined
Who is Andrew Carnegie?
Where does Oil Come from? What is the process of obtaining oil?
Oil comes from the ground. Holes are dug into the ground and oil seeps up.
What is Social Darwinism?
A view of society based on scientist Charles Darwin's theory of natural selection.
What is collective bargaining?
all workers acting collectively, or together- workers had a greater chance of success in negotiating with management.
A law that made it illegal to create monopolies or trust that restrained free trade
What is Sherman Anti Trust Act?
Author of the book The Principles of Scientific Management . Encouraged managers to look at their employees as interchangeable parts.
Who is Fredrick W. Taylor
How long was the first flight by Wilbur and Orville Wright?
12 Seconds
Who is the founder of Standard Oil?
John D. Rockefeller
What is specialization?
Specialization is the splitting of work into smaller and more specific task.