Gilded Age 24-25

Workers stick together to fight for better pay and working conditions. This is known as a:

• monopoly

• trust

• labor union

• bargaining

Laissez-Faire Economics

• Economic system in which the government does not intervene in business practices "Hands off"

• A business practice in which a single manufacturer controls all of the steps

• A business practice in which a company takes over all of its competitors

• Theory that claims the best people in society are the ones who rise to the top

Labor Union that accepted skilled and unskilled workers

• AFL

• Knights of Labor

Labor Union that accepted skilled workers only, founded by Samuel Gompers

• AFL

• Knights of Labor

Strike

• An organization of workers that tries to improve working conditions, wages, and benefits for its members

• An organized work stoppage intended to force an employer to address union demands

• a share of ownership in a corporation

Why was it called the "Gilded Age"?

• America had many organizations for immigrants to join.

• America looked bright and shiny from the outside, but had problems, like corruption.

• It was beginning to build many large cities, with skyscrapers.

Andrew Carnegie and John D Rockefeller created monopolies. What is a monopoly?

• When one person or company controls an entire industry

• a board game created by Rockefeller and Carnegie

• a law that gave them advantages in business

How did Cornelius Vanderbilt build his wealth?

• Automobile Industry

• Railroad and Shipping Industry

• Oil Industry

• Steel Industry

Who owned Standard Oil and is considered the wealthiest American of all time?

• John D. Rockefeller

• Andrew Carnegie

• Samuel Gompers

• JP Morgan

^{- Founded a steel empire in Pittsburgh, Pennsylvania}

^{- Used profits to build many libraries}

What Gilded Age individual best represents the description above?

• John D. Rockefeller

• Andrew Carnegie

• George Pullman

• Thomas Edison