Standard 11

Vertical integration is

• Owning all stages in the process of production

• Buying out all of your competitors

• Being the only company that makes/ sells a product

• A combination of companies under one group to avoid state taxes

Industrialization is

• a new way to think about the world

• the belief that industry is best

• the development of safer agricultural practices

• the development of industries in a country or region on a wide scale.

Railroad construction dramatically increased after the

• Rebellion of John Brown

• War of 1812

• Civil War

• Revolutionary War

This industrialist created the first monopoly with Standard Oil

• Cornelius Vanderbilt

• Andrew Carnegie

• JP Morgan

• John D. Rockefeller

This Industrialist revolutionized the process of refining iron into steel and used vertical integration to dominate the steel industry

• Cornelius Vanderbilt

• Andrew Carnegie

• JP Morgan

• John D. Rockefeller

This industrialist consolidated NY Central & Hudson River RRs, creating one of first large corporations in America

• Cornelius Vanderbilt

• Andrew Carnegie

• JP Morgan

• John D. Rockefeller

This Industrialist dominated the financial world and was able to buy up many railroads during the Panic of 1893

• Cornelius Vanderbilt

• Andrew Carnegie

• John D. Rockefeller

• JP Morgan

All of the following were tactics of ______________:

Lowered prices to drive out competitors (rate wars)

Threatened companies to sell  to Standard Oil (buyouts)

Bribed railroads to buy Standard Oil fuel (rebates, kickbacks)

Bribed Congress members

• Vertical Integration

• The Standard Oil Trust

• Carnegie steel

• Cornelius Vanderbilt

Which of the following is a positive way to view the industrialists of this time? It usually has the connotation of hard-working, benevolent (giving) men who better society.

• Captains of Industry

• Industrialists

• Robber Barons

• Good Guys

Which of the following is a negative way to view the industrialists of this time? It usually has the connotation of greedy, selfish businessmen who exploit the less fortunate to make greater profits.

• Captains of Industry

• Industrialists

• Robber Barons

• Good Guys