Definitions for Gilded Age #1

A wealthy businessman who made his fortune in the steel industry and became known for his

philanthropy.

• John D. Rockefeller

• Andrew Carnegie

• J. P. Morgan

• Henry Ford

Answer explanation

tip: Think Carnegie "car", made of steel

the founder of Standard Oil, he became one of the richest men in history through his control of the oil industry

• John D. Rockefeller

• Andrew Carnegie

• Henry Ford

• Theodore Roosevelt

Answer explanation

tip: think rock like diamonds and rich people have lots of diamonds and so Rockefeller is the richest man in history; think of this- " John is just a Standard Feller"; think rocks and oil, You will slip when you STAND on the Oily ROCKs

a powerful banker who helped finance and organize major industries, including steel and railroads

• Andrew Carnegie

• John D. Rockefeller

• Theodore Roosevelt

• J.P. Morgan

Answer explanation

tip: J.P. Morgan Chase Bank is the largest US bank in 2024; so think banker and bank; think I go to the bank to get MOR money

the inventor of the assembly line in car manufacturing, making automobiles affordable for ordinary people

• Andrew Carnegie

• John D. Rockefeller

• Henry Ford

• J.P. Morgan

Answer explanation

tip: FORD is a car manufacturer so think car assembly line; such as Ford Mustang, Ford Explorer and Ford Bronco

the 26th president, known for his progressive policies, conservation efforts and trust-busting actions

• J.P. Morgan

• Theodore Roosevelt

  (Teddy Roosevelt)

• Andrew Carnegie

• William McKinley

Answer explanation

Teddy became president after William McKinley (25th president) was assassinated; Teddy was only 42 and became the youngest president in history; He activated the Sherman Antitrust Act 1890;

match

• urbanization

• when two or more companies combine to form one larger company

• merger

• an agreement between businesses to set prices or limit competition, often to increase profits

• corporation

• a large company that is legally recognized as a single entity, separate from its ownsers

• capital

• growth of cities as people move from rural areas to find jobs and opportunities

• pool

• money or resources used to start and run a business

match

• holding company

• a wealthy person who donates money to charities and public causes

• philanthropist

• a group of businesses controlled by a single board of directors to reduce competition and control prices

• trust

• a person who starts and runs their own business, taking on financial risks

• entrepreneur

• a company that owns other companies, often to control industries

the idea that the government should not interfere in business and the economy

• laissez-faire

• social darwinism

• conspicuous consumption

• push-pull factors

Answer explanation

tip: "hands off" approach, government shouldn't interfere in business and the economy; think be lazy, don't interfere;

an economic system where businesses compete freely with little government control

• laissez-faire

• social darwinism

• free enterprise system

• conspicuous consumption

the belief that only the strongest businesses and individuals will succeed, similar to survival of the fittest

• Robber Barons

• Free Enterprise System

• Laissez-Faire

• Social Darwinism