Industrialization

Railroad companies created a system of connected lines. This is called a 

• network

• monopoly

• trust

• gauge

The term business monopoly can best be described as 

• the most common form of business in the United States

• government control of the means of production

• an agreement between partners to manage a corporation

• a company that controls or dominates an industry

This type of monopoly involves gaining control of all steps used to change raw materials into finished products.

• Vertical Integration

• Horizontal Integration

• Trust

• Sherman Antitrust Act

This type of monopoly involves taking  control of one aspect of an entire business

• Horizontal Integration

• Vertical Integration

• Trust

• Sherman Antitrust Act

This process converted iron to steel and allowed for taller buildings, longer bridges, and heavier machinery.

• Carnegie Process

• Ironing Process

• Bessemer Process

• Bell Process

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

• automobile

• mass production

• sports car

• transportation

The wealthy often give away a portion of their earnings to good causes.  This practice is known as...

• a monopoly.

• philanthropy.

• economics.

• laissez-faire.

John D. Rockefeller is associated with which industry?

• Railroads

• Shipping

• Steel

• Oil

What were two Communication Advancements of the time? 1870-1920

• Computers and Cordless Phones

• Trans -Atlantic telegraph & Telephone

• Radio & TV

• Telegram & Pony Express

 How did Railroads impact the economy during this time?

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

• Used to make artillery and weapons

• Provided money for other industries

• Materials were more expensive and quicker to ship