Vocabulary. Corporation, monopoly, vertical integration and philanthropy

Corporation: a busuness in which investors own shares Monopoly: total control of a type of industry by one person or one company Vertical Integration: The combining of companies that supply equipment & services needed for a certain industry

Philanthropy: charitable acts or gifts of money to benefit the community

2. What cities became centers of steel production in the late 1800's?

2. Pittsburgh and Pennsylvania became the steel capital of the United States. Other cities also became steel capitals because they were close to rivers, some them are Cleveland, Chicago, Detroit and Birmingham, Alabama.

3. Summarize the steps that John D. Rockefeller took to gain control of the oil industry.

3. Rockefeller used horizontal integration-combining competing firms into one corporation. Rockefellet lowered his prices to drive his competitors out of business. He also pressured customers not to deal with rival oil companies.

3. HE also pusueded the railroads to grant him rebates in exchange for his business.

4. List two benifits of competition to consumers.

1. Lower Prices 2. Forming Trust's

5. Compare the methods used by Rockefeller and Carnegie to build their industrial empires. Describe any differences between the two.

Rockefeller used horizontal integration- combining competing firms into one corporation. Carnegie used vertical integration- acquiring companies that provided the equipment & sevices for him.

6. Study the cartton on page 569. Whom do the figures represent? What is the cartoon saying about the standard oil company?

1. The figures represent the Government; The Capital, The White House and the Suppliers.2. The cartoon is saying that the Standard Oil Company is taking over the oil company and branching out to the Government.

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Political Cartoon. Why do you think the artist chose an octopus to represent standard oil?

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Section Assesment. do # 1-5

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Read Ch. 19 Sec. 3

political cartoon, do # 1-5

Question	Answer
Political Cartoon. Why do you think the artist chose an octopus to represent standard oil?	1. Because Standard Oil is branching out and taking over more and more companies/ suppliers. It saying its growing bigger and bigger and the octopus shows that it is a big company with lots of hands.
Section Assesment. do # 1-5
Vocabulary. Corporation, monopoly, vertical integration and philanthropy	Corporation: a busuness in which investors own shares Monopoly: total control of a type of industry by one person or one company Vertical Integration: The combining of companies that supply equipment & services needed for a certain industry
Vocabulary continued	Philanthropy: charitable acts or gifts of money to benefit the community
2. What cities became centers of steel production in the late 1800's?	2. Pittsburgh and Pennsylvania became the steel capital of the United States. Other cities also became steel capitals because they were close to rivers, some them are Cleveland, Chicago, Detroit and Birmingham, Alabama.
3. Summarize the steps that John D. Rockefeller took to gain control of the oil industry.	3. Rockefeller used horizontal integration-combining competing firms into one corporation. Rockefellet lowered his prices to drive his competitors out of business. He also pressured customers not to deal with rival oil companies.
3. Continued	3. HE also pusueded the railroads to grant him rebates in exchange for his business.
4. List two benifits of competition to consumers.	1. Lower Prices 2. Forming Trust's
5. Compare the methods used by Rockefeller and Carnegie to build their industrial empires. Describe any differences between the two.	Rockefeller used horizontal integration- combining competing firms into one corporation. Carnegie used vertical integration- acquiring companies that provided the equipment & sevices for him.
6. Study the cartton on page 569. Whom do the figures represent? What is the cartoon saying about the standard oil company?	1. The figures represent the Government; The Capital, The White House and the Suppliers.2. The cartoon is saying that the Standard Oil Company is taking over the oil company and branching out to the Government.

Created by: ironchef

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