Industrial Revolution

Which of the following was responsible for the increased production of steel from iron?

• Lowell system
• Bessemer process
• steam engine
• Steel Gin

 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

Why was steel so important? What was it used for?

• Used to make artillery and weapons
• Cheap to import from China
• It came from Minnesota
• Strong. Used for bridges, railways, nails, & skyscrapers 

Who was Andrew Carnegie? (1835-1919)

• Monopolized the oil industry

• Steel producer

• Powerful Banker
• Powerful Railroad owner

Define a monopoly.

• A card game
• businesses that are owned by investors
• A company controls all or most of businesses in an industry.
• Poor families

Describe John D. Rockefeller.

• Built a steel empire
• powerful banker
• Owned Standard Oil Company 
• Had a steel Monopoly

Why was Thomas Edison such a big deal?

• Great Scientist-cured Polio
• Great Inventor - improved electric light 
• Great Doctor - invented liver transplant
• Great Teacher - taught social studies

What were some problems that the people in factories encountered?

• long hours, good pay
• Low wages, long hours, dangerous
• dangerous, long hours, good pay
• low wages, good hours. dangerous

How did Andrew Carnegie make his money?

• Oil
• Steel
• Banking
• Railroad

What are corporations?

• business owned by farmers
• Big banks that supply money to companies
• Businesses that are owned by one person
• Business that are owned by individuals who purchased stockshares