Robber Barons Flashcard 1/26

Front

What industry was John D. Rockefeller known for dominating?

Back

Oil

Front

How did John D. Rockefeller gain control of the oil industry?

Back

Forming a monopoly through his company, Standard Oil

Front

What was Andrew Carnegie's primary business interest?

Back

Steel industry

Front

How did Andrew Carnegie become one of the richest men in the world?

Back

Through investments in the steel industry and business acumen

Front

What was J.P. Morgan's role in the banking industry?

Back

Prominent figure in consolidating and restructuring the American railroad system and leadership in major corporations

Front

How did J.P. Morgan consolidate various industries under his control?

Back

Through mergers and acquisitions

Front

What industry was Cornelius Vanderbilt heavily involved in?

Back

Railroad

Front

How did Cornelius Vanderbilt expand his wealth and influence?

Back

Investments in railroads and shipping, and strategic business acquisitions

Front

What is a monopoly and how did the robber barons use it to their advantage?

Back

Robber barons used monopolies to eliminate competition, control prices, and maximize their profits.

Front

What are some characteristics of the robber barons and their impact on the economy?

Back

Monopolizing industries, driving out competition, and creating vast economic inequality