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2nd Industrial Rev
| Question | Answer |
|---|---|
| gaining control of all the steps required to change raw material to finished product | Vertical Integration |
| Andrew Carnegie used this tactic to gain total control of the steel industry: | Vertical Integration |
| Corporation | a business owned by shareholders (investors) and run by a board of directors |
| Shareholder | investors who buy part of a company through shares of stock |
| Robber baron | business leader who uses ruthless tactics, like monopolies and trusts |
| Trusts | a group of corporations run by one board of directors. |
| Monopoly | one company controls all the business of an industry. |
| Bessemer Process | new way to make stronger steel at a lower cost |
| John Rockefeller | goal was to eliminate all of the competition in the oil industry, so he created trusts and monopolies |
| Free enterprise system | Businesses are owned by private citizens. Companies compete to win customers by making the best products at the lowest prices |
| Laissez Faire | government is “hands off” and does not get involved with regulating business |
| Old immigrants | came mostly from northern and western Europe (Ireland, England, Germany) |
| New immigrants | came mostly from southern and eastern Europe, as well as Asia (Italy, Russia, Greece, Japan) |
| Angel Island | location where immigration processing station was located for Asian immigrants, outside of San Francisco |
| Ellis Island | location where immigration processing station was located for European immigrants, near New York City |
| Why was it difficult to assimilate as a new immigrant to US? | few spoke English, practiced many different religions, difficult to find good jobs, lived and worked within their immigrant group |
| Tenement buildings | tight, cramped, dirty, disease-ridden apartments |
| Nativism | People who want to limit immigration and preserve the country for native-born white protestants |
| Assimilate | to become part of another culture |
| Push factors | reasons that people would be “pushed out” of their country (corrupt government) |
| Pull factors | reasons that people were “pulled” to America (more freedoms) |
Created by:
sabbourj
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