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Krise U.S. Ind Rev
Chapter five: The Industrial Revolution
| Question | Answer |
|---|---|
| Economies of scale | Lower costs and increase production |
| Why did the government gave railroad companies land around the railroads? | To encourage rapid construction of the railroads. |
| How did railroad companies raised money? | Selling government land grants |
| Why did corporation buy new machines? | To achieve economies of scale. |
| Why did workers buying power increase in the late 1800's? | Prices fell faster than wages |
| What did supporters of laissez-faire believe the government should do? | Protect property rights and maintain peace. |
| Where did the concept of ready-made clothes come from? | Taking measurments of Union soldiers. |
| Economies of scale | Lower costs and increase production |
| Why did the government gave railroad companies land around the railroads? | To encourage rapid construction of the railroads. |
| How did railroad companies raised money? | Selling government land grants |
| Why did corporation buy new machines? | To achieve economies of scale. |
| Why did workers buying power increase in the late 1800's? | Prices fell faster than wages |
| What did supporters of laissez-faire believe the government should do? | Protect property rights and maintain peace. |
| Where did the concept of ready-made clothes come from? | Taking measurments of Union soldiers. |
| How were railways made more reliable? | By creating standardized time zones. |
| Why were big corporations able to continue during poor economic times? | Their fixed costs were small compared to their operating costs. |
| How did department stores change the way people shopped? | They brought together a large variety of things to buy. (Wal Mart) |
| How dd companies break strikes? | By using a lockout. |
| Why did the Great Northern become such a successful railroad? | The owners made good decisions and were honest. |
| What advantage do big corporations have over small business? | They could produce things cheaper and more efficiently. |
| What were replacements for striking workers called? | strikebreakers |
| How did employers view unions? | as conspiracies that interfered with property rights. |
| What event began the decline of the Knights of Labor? | The Haymarket Riot |
| What are some examples of operating costs? | wages, shipping charges, and supplies |
| What is an example of a trade union? | The Iron Molders International Union |
| What did the Pacific Railway Act do? | It began the railroad boom |
| What are examples of fixed costs? | Loans, mortgages, and taxes |
| What job did the automatic loom do? | It changed bobbins in a textile mill without stopping the machine. |
| How did air brakes make trains more efficient? | They enabled longer and heavier trains |
| What do holding companies do? | They own stock in companies that produce goods |
| What does laissez-faire mean? (Kind of) | "let people do as they choose" |
| Who manages property for others? | Trust companies |
Created by:
krisestu
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