Industrial Economy

American businessman- founder of Standard Oil Company

• Samuel Gompers
• Thomas Edison
• Vanderbilt
• John D. Rockerfeller

A company that sells shares (stock) of its business to the public to raise capital

• monopoly
• corporation
• trust
• industry

What made the cost of production lower?

• financial resources
• raw materials
• light bulbs
• assembly line

Andrew Carnegie used the ____________________ to make ___________ stronger and cheaper.

• refinery process - oil
• Bessemer process - steel
• Carnegie process - iron ore
• pipeline - steel

Known as the "Master of Steel"

• John D. Rockefeller
• Cornelius Vanderbilt
• Gustavus Swift
• Andrew Carnegie

The inventor of such items like the phonograph, electric generator, & movie projector was

• Alexander Graham Bell
• Thomas Edison
• Nicola Tesla
• Eli Whitney

The inventor of the telephone in 1876 was

• Thomas Edison
• Nicola Tesla
• Alexander Graham Bell
• Eli Whitney

What made the cost of production lower?

• financial resources
• raw materials
• light bulbs
• assembly line

Which of the following best characterizes the Gilded Age?

• The discovery of goldfields in the West led to an increase in the amount of money issued for circulation.
• Industrialists used their connections with corrupt government officials for material gain and political power.
• In the Deep South a sharp increase in immigration brought a boom in construction and industry.
• Small, family-owned farms were bought and consolidated to form large agricultural corporations.

Why were strikes not as effective in industries with unskilled workers?

• Unskilled workers were paid high wages.
• Unskilled workers could be replaced more easily than skilled workers.
• Unskilled workers were not allowed to join unions.
• Many unskilled workers were deported for supporting unions.