Unit 1 Part 2 Ch 6 Robber Barons

T/F Vertical Integration is when a business tries to control all the industry through mergers ; to buy out competitors

By 1880, what percentage of the US oil refining industry did Rockefeller control?

T/F Vertical Integration is when a business buys out all suppliers to control materials

What is the term for the complete control of an industry's production, wages, and prices?

He invented the modern typewriter and the "Qwerty" keyboard

Why was it hard to prosecute companies under the Antitrust Act?

How did Rockefeller drive his competition out of business?

Where was Andrew Carnegie from?

In what industry did Rockefeller make his money?

What was the name of Rockefeller's company?

What industry did Carnegie FIRST make his fortune in?

What theory stated the success and failure of businesses were governed by natural law?

What's the process where a business controls all the resources, manufacturing and distributing?

He developed the use of Alternating Current for use in light and power. By 1890, electricity runs many machines & homes

Term for when companies turn stocks over to trustees who run separate companies as one big one.

Where did most of the Industrial Growth in this period occur?

What percentage of his wealth did Carnegie donate?

T/F Horizontal Integration is when a business tries to control all the industry through mergers ; to buy out competitors

What  is the business strategy where a company buys out its competitors or merges with them?

T/F George M Pullings created the 1st sleeper railcar and built a factory and town named for him in Illinois.

What does Laissez Faire mean and how does it apply to business?

What kind of wages did Rockefeller pay?

T/F Under railroad time, the United States was divided into four time zones

Which was NOT an identified problem in the South with Industrial Expansion?

When these large trusts felt pressure from the government how did they respond?

He used steel to create the 1st skyscraper in Chicago in 1884

T/F Horizontal Integration is when a business buys out all suppliers to control materials

He invented the pneumatic process of steel making using the "Bessemer Process" from Sir Henry Bessemer in Great Britain

This man invented the telephone

What act made it illegal to form a trust that interfered with free trade between states?

By 1899, Carnegie's business produced more of what product than all the factories in England?

T/F The Central Pacific Railroads employed thousands of Irish immigrants to build the Transcontinental Railroad

What is the title for business leaders that used tactics like Rockefeller and others?

What was the purpose of a holding company?

He established the 1st research laboratory and patented the 1st efficient incandescent light bulb

What is philanthropy?