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Ch. 24 Study Stack
A review of the key terms and concepts associated with the Gilded Age
Question | Answer |
---|---|
Period of time between the end of Reconstruction and 1900, means covered thinly with gold paint | Gilded Age |
Purchase of companies at all levels of production | Vertical integration |
Purchase of competing companies in the same industry | Horizontal integration |
Organization that brings together workers in the same trade, or job, to fight for better wages and working conditions | Labor union |
Money earned by a business after subtracting its operation costs | Profit |
To give money to a company or bank, or to buy something, in order to make a profit later | Invest |
Use of interchangeable parts and assembly lines to make large quantities of identical goods | Mass production |
Industrialist who greatly expanded the U.S. steel industry in the late 19th century | Andrew Carnegie |
Oil industry businessman who became the first billionaire in American history | John D. Rockefeller |
Auto industry businessman who perfected the assembly line | Henry Ford |
A company that controls all production and sales of a particular product or service | Monopoly |
Group of corporations that unite in order to reduce competition and control prices in a business or an industry | Trust |
A more cost-effective method of producing steel | Bessemer Process |
Inventor of the telephone | Alexander Graham Bell |
Business leaders whose method of gaining personal fortune had a positive impact on the country | Captains of Industry |
Business leaders who became rich through ruthless, corrupt or dishonest methods | Robber Barons |
Time spent not working | Leisure |
The growth of cities | Urbanization |