This is the meaning of the term “Gilded.”
What is something made of a cheap metal, but covered in gold?
A term used to describe powerful industrialists who used ruthless tactics to eliminate competition, exploit workers, and amass huge fortunes at the expense of the public.
Who were the Robber Barons?
A corporate expansion strategy in which a business brings together many firms in the same business.
What is horizontal integration?
Name the two major railroad companies that built the Transcontinental Railroad.
What are the Central Pacific Railroad and the Union Pacific Railroad?
A term used to describe wealthy business leaders who helped expand the U.S. economy, created jobs, and contributed to society through philanthropy.
Who were the Captains of Industry?
A worker who replaced other union workers who were on strike.
What is a “scab”?
A type of business consolidation that involves buying out the supply chain in order to minimize production costs
What is vertical integration?
Railroads did this to contribute to the growth of other industries during the Gilded Age.
What is facilitate the transport of goods and raw materials, boosting industries such as steel and agriculture?
This term describes the practice of one company controlling an entire industry, eliminating competition.
What is a monopoly?
The settlement of a disagreement by an impartial third party.
What is arbitration?
Billionaire steel tycoon who opened the largest steel factory the world had ever known in Pittsburgh, PA
Who is Andrew CARNEGIE?
This system was established in 1883 to standardize different sections across the United States.
What is the creation of time zones?
A business that owns and controls shares of multiple companies, which allows for influence over multiple businesses.
What is a holding company?
This french term refers to how the government should not regulate business because it would only stifle innovation and progress.
What is “Laissez-fair” economics?
These people were hurt and debilitated by the railroads.
What are indigenous tribes?
A business arrangement where multiple companies in the same industry are placed under the control of a board of directors, which reduces competition and creates a monopoly.
What is a trust?