Industrialization

Front

Henry Ford’s main contribution to the US industry was the idea of the assembly line and __________.

Back

mass production

Front

John D. Rockefeller is associated with which industry?

Back

Oil

Front

How did Railroads impact the economy during this time?

Back

Moved raw materials (steel, lumber, coal) to factories

Front

How was mass production of products a good thing?

Back

Made products cheaper & more available

Front

What were some problems that the people in factories encountered?

Back

Low wages, long hours, dangerous

Front

What are stocks?

Back

Parts or “shares” in a corporation

Front

What are corporations?

Back

Business that are owned by investors 

Front

Scottish immigrant who became a giant in the steel industry.

Back

Andrew Carnegie

Front

Business practices of John D. Rockefeller

Back

Getting rebates from railroads, intimidation and lowering prices to put competitors out of business

Front

How did monopolists hurt the free enterprise system?

Back

They reduced competition and made it difficult for new companies to compete.