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Chatper 14 Tulini

The Expansion of American industry, 1865-1900 Review

QuestionAnswer
Cartel Looss association of Bussinesses supplying the same product often formed secretly
Horizontal Consolidation Process of creating one giant business by bringing together smaller firms in the same Field.
Economy of scale Producing or buying an item on a very large scale so the price per item goes down
Trust Combinations of companies that turn over their assests to a board of control prices and competitions in a particular industry
Monopoly Control of comodity or service extending to the elimination of competition and the fixing of prices
Collective Bargaining Negotiation between employers and worker usually through a labor union
Socailism The economuc and political philosophy that advocates collective ownership of factories and propertys
Anarchist
Haymarket Square
Pinkerton Private police force of the late 1800s and early 1900s; hired by companies to break strikes
Transcontinental RailRoad Railroad spanning North American continent; completed in 1869
Social Darwinisim Application of Charles Darwin's "survival of the fittest" theory to human society; used by the great industrialists of the late 1800s to discourage government interference in business
Pullman Strike
Homestead Strike
Vertical Consolidation Control of all phases of a product's development, from raw materials to delivery of the finished products
Ellis Island
Andrew Carnegie Industrialist who made a fortune in stell in the late 1800s through vertical consolidation; as a philanthropist, he gave away over $350 million
John Roebling
Thomas Edison Inventor; developed the light bulb, the phonograph, and hundreds of other inventions in the late 1800s and early 1900s
Alexander Graham Bell Inventor; developed the telephone in 1876; one of the founders of american telephone & telegraph (AT&T) in 1884
Samuel F.B. Morse
John D. Rockefeller
Created by: SMTulini
Popular U.S. History sets

 

 



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