US History Industrialization

Front

What did the American system of mass production of standardized, interchangeable parts encourage US capitalists to do?

Back

Invest in machinery to replace skilled labor

Front

One of the methods used by business leaders to increase their profits was:
- funding research on new technologies
- supporting a centrally planned economy
- elimination of the tactic of vertical integration
- elimination of as much competition as possible

Back

elimination of as much competition as possible

Front

The greatest economic consequence of the transcontinental railroad network was that it

Back

united the nation into a single, integrated national market

Front

Monopoly

Back

A market situation where there is only a single provider of a good or service.

Front

How did the Gilded Age get its name?

Back

It appeared glamorous on the outside, but this covered up many problems.

Front

A group of companies in the same industry giving day-to-day operation of their companies over to a single board of directors.

Back

trust

Front

Invented electric lightbulb: Morgan, Thomas Edison, Carnegie, Rockefeller

Back

Thomas Edison

Front

Explain the impact electricity had on factories.

Back

Factories could remain open 24 hours a day.

Front

Urbanization led to which of the following: much wealth for most citizens, extreme poverty for many workers, safe, clean streets, the fall of tenement buildings

Back

extreme poverty for many workers

Front

A person who uses ruthless business tactics to get money from customers is called a(n)

Back

robber baron