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US Hist Ch3 Test

QuestionAnswer
Characterized by an increase in technology due to advances in electricity after 1890 The Second Industrial Revolution
The total value of all goods and services a country produces during a year Gross National Product (GNP)
Why was Petroleum important? It could be turned into Kerosene
Who drilled the first oil well? Edwin Drake
Where was the first oil well dug? Neat Titusville, Pennsylvania
What did Thomas Edison invent? Phonograph, Electric Generator, Lightbulb, Battery, Motion Picture
What did Lewis Lattimer invent? Cheap, long-lasting carbon filament
What did George Westinghouse invent? An Alternating Current System
What did Cyrus Field do? Laid a telegraph cable across the Atlantic
What did Alexander Graham Bell invent? Telephone
What did Thaddeus Lowe invent? The ice making machine
What did Gustavius Swift develop? A refrigerated railroad car.
What did Christopher Scholes invent? The typewrite
What did Josephine Cochrane invent? The automatic dishwasher
What did George Eastman invent? The Kodak Camera
What did Frank and Charles Duryea invent? The first gasoline powered carriage
A policy that government should interfere as little as possible in the nation's economy; relies on Supply and Demand Laissez Faire
The railroad boom began with... The Pacific Railway Act
Lead engineer on the Union Pacific Grenville Dodge
Sold his stock in the Central Pacific to four Sacremento merchants Theodore Judah
The 4 Sacramento merchants Leland Stanford, Charley Crocker, Mark Hopkins, and Collins P. Huntington
Built bridges to the Florida Keys and rail lines to St. Augustine. Henry Flagler
People who loot an industry and become rich unethically Robber barons
The most notoriously corrupt railway owner Jay Gould
Built the Great Northern Railroad James J. Hill
Costs that a company pays even if is not operating. E.g loans, mortgages, and taxes. Fixed Costs
Costs that are incurred when running a company. E.g wages, shipping costs, and buying large materials. Operating costs
When a company owns all the different businesses that it relies on to operate. Vertical integration
Combining many firms engaged in the same type of business into one large corporation Horizontal integration
Used horizontal integration in the oil industry John D. Rockefeller
A legal arrangement that allows one person to manage another person's property A trust
A company that owns stock of companies Holding Company
The most successful investment banker J.P Morgan
The first advertising company N. W. Ayer and Son
The first department store The Grand Depot
A group of retail outlets owned by the same company Chain Stores
Example of a chain store Woolworth's
Used to reach millions of people who lived in rural areas Mail order catalogs
A fire that had hundreds of workers trapped inside Triangle Shirtwaist Factory
Created by: Wallaby