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SS - Unit 3

General Information about Industry and Big Business

What does an industry consist of? ALL of the businesses that provide the same type of goods or services. (FALLS UNDER THE UMBRELLA!!!)
Who invented the telephone? Alexander Graham Bell
Who was the Captain of the STEEL Industry? Andrew Carnegie
Who invented the light bulb, the phonograph, and many other devices? Thomas Edison "The Wizard of Menlo Park"
Who was the Captain of the AUTOMOBILE Industry? Henry Ford
Who was the Captain of the OIL Industry? John D. Rockefeller
Who was the Captain of the SHIPPING & RAILROADS Industry? Cornelius Vanderbilt
Who invented the first successful airplane? The Wright Brothers; Wilbur and Orville Wright
Alexander Graham Bell invented the _____? Telephone
Andrew Carnegie was the Captain of what industry? STEEL
Thomas Edison invented _____? The light bulb
Henry Ford was the Captain of what industry? AUTOMOBILE
Who was the famous engineer and businessman who used assembly line techniques to create the first affordable automobile. Henry Ford
John D. Rockefeller was the Captain of what industry? OIL
This Ohio businessman started the Standard Oil Company and gained control of most of the oil business in the U.S. John D. Rockefeller
Cornelius Vanderbilt was the Captain of what industry? SHIPPING & RAILROADS
Who was a famous New York businessman who made a fortune in shipping and later in railroads? Cornelius Vanderbilt
What happened between the end of the Civil War (1865) and the start of World War I (1914)? Industrialization (the growth of industry)
What were the 4 reasons that INDUSTRIES grew rapidly? 1. Access to raw materials and energy 2. Availability of labor (workers) 3. Inventions of many kinds (telephone/light bulb/airplane) 4. Financial resources (money, bank loans)
What were the 4 reasons that BIG BUSINESSES arose? 1. National Markets were created by transportation 2. Captains of Industry led growth 3. Advertising and Mail Order Catalogs developed 4. Lower cost of production (machines/assembly lines)
Where was the textile (cloth making) industry concentrated? New England states
Where was the meat packing industry concentrated? Chicago, Illinois
Where was the steel industry concentrated? Pittsburgh, Pennsylvania
Where was the automobile industry concentrated? Detroit, Michigan
How did railroads link resources, products, and markets? 1. Moved natural resources (raw materials) to eastern factories 2. Moved iron ore and coal to steel mills (mostly Pittsburgh, PA) 3. Moved finished products from factories to buyers all over
How did Industrialization change FARM life? Mechanization increased crop production and reduced farm labor needs.
How did industrialization change CITY life? Industrialization led to the growth of cities and created more jobs for workers.
How did industrialization give more people access to more consumer goods? Mail order catalogs became a new way for consumers to buy products.
Who was the Scottish immigrant that created the nation's largest steel making business? Andrew Carnegie