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chapter 14 reviewww
the expanson of american industry
| Question | Answer |
|---|---|
| Cartel | loose assosiation of businesses supplying the same product often forms secretly. |
| horizontal consolidation | process of creating one giant business by bringing together smaller firms in the same field. |
| economy of scale | producting and buying an item on a very large scale so the price per item goes down. |
| trust | combination of companies that turn over their assets to a board of trusties to control prices and competition in a particular industry. |
| monopoly | Control of a commidity or service extending to the elimination of competition and the fixing of prices. |
| collective bargining | negotiation between employers and workers usually through a labor union. |
| socailism | The economic and political philosophy that advocates collective ownership of factories and property. |
| anarchist | Political radical who opposes all goverment because it limits individual liberties and serves the wealthy ruling classes. |
| haymarket square | a rally held in chicago on may 4th. |
| Pinkerton | private police force of the 1800s and early 1900s hired by companies to break strikes. |
| Transcontinental Railroad | Railroad spanding north america continent in 1869. |
| Social Darwinism | Application of Charles Darwin's survival of the fittest theory to human society. |
| pullman Strike | A strike that started by Eugene V. Debs and led to complete disruption of western railroad traffic including the mail |
| Homestead Strike | A strike that took place in Homestead, Pennsylvania that dealed with steal. |
| Vertical Consolidation | A method by which they gained control of all phases of a product's development |
| Ellis Island | Immigrants came to the United States. |
| Andrew carnegie | A fasinating example of an american industrialist |
| John Roebling | German born american civil engineer. |
| Thomas Edison | Invented the light bulb |
| Alexander Graham Bell | Invented the telephone |
| Sameul F.B. Morse | inventor of several improvement to the telegraph; also a geographer. |
| John D. Rockefeller | american oil industrialist, invester, philanthropist. He was the founder of the Standard Oil Company, |
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