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U.S. HIST

CHAPTER 4

QuestionAnswer
1. Entrepreneur People who invest money in a specific product to make a profit.
2. Protective Tariff Taxes that would make imported goods cost more than made locally.
3. Laissez-Faire Policies that allowed businesses to work under less government regulation.
4. Patent A grant that gives permission to an inventor that he or she is allowed to use/sell their invention for an amount of time.
5. Thomas Edison The inventor of the light-bulb and holder of over 1,000 patents.
6. Bessemer process Process found by Henry Bessemer in which purified iron, which made it strong yet lightweight.
7. Suspension Bridge A bridge that holds the road with steel cables.
8. Time Zone Any of the 24 longitudinal areas where the same time is used.
9. Mass Production Systems to create products in which hand tools were replaced with machines.
10. Corporation Multiple people have ownership of a business.
11. Monopoly A corporation has ownership of the product itself, or buy out other businesses that sell that same product.
12. Cartel Association of producers of a good or service monopolize the market.
13. John D. Rockefeller Oil tycoon who made deals with railroads to get a larger profit.
14. Horizontal Integration Make a giant company with lower production cost to make more profit against a rival company with higher prices.
15. Trust Companies give stock to a group of "trustees" who will combine the stocks into a new organization.
16. Andrew Carnegie Owner of a steel tycoon.
17. Vertical Integration Allowed companies to sell at lower prices to The public, but sell at higher prices to their competitors.
18. Social Darwinism Belief that some races were higher rank than others which gave them the rule over other races.
19. Interstate Commerce Commission(ICC) Created to oversee railroads operations, meaning it could monitor railroads that crossed state lines only.
20. Sherman Antitrust Act Outlawed any trust that operated "in restraint of trade or commerce among the several states.
21. Sweatshop Factory workers who worked 12 hours for 6 days in a small sized, dark, unsanitary warehouse.
22. Company Town Housing that were owned by the business and rented out by workers.
23. Collective Bargaining Negotiating as a group for higher wages.
24. Socialism Economic and political philosophy that favors the public instead of private.
25. Knights of Labor A labor union that was discovered by Uriah Smith Stephens. Which included all workers including blacks.
26. Terence V. Powderly He was leader of the Knights of Labor and he started boycotts and negotiations with employers.
27. Samuel Gompers Creator of AFL, but before that, head of a cigarmakers' union in New York.
28. American Federation of Labor (AFL) A craft union filled with skilled workers from some 100 local unions devoted to specific crafts. AFL failed against the Knights of Labor.
29. Haymarket Riot 1886 labor-related protest in Chicago which ended in deadly violence.
30. Homestead Strike Part of the steelworkers' and miners' strike that happened as economic depression spread across America.
31. Eugene V. Debs He worked a low railroad job as a teenager and started railroad strike of 1877, which he said started because of the corruption between the unions.
32. Pullman Strike Violent 1894 railway workers' strike which began outside of Chicago and spread nationwide.
Created by: Dhrvrthd