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Industrialization Review Flashcards | StudBud
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Industrialization Review
Industrialization Review
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1
Social Darwinism
Everyone can survive, everyone is equal
"The survival of the fittest"
2
Why did the Populist Party want free coinage of silver?
to raise campaign contribution limits
to reduce economic inflation
to decrease the bargaining power of labor unions
to increase the amount of moneey in circulation
3
By creating monopolies and establishing trusts, industrial leaders of the late 1800s
were able to accumulate vast amounts of wealth
caused the Panic of 1893
secured passage of the Sixteenth Amendment
secured the election of McKinley as president in 1897
4
Haymarket Riot
Strikes over cut wages in Chicago, bomb exploded
Riot where they burned down factories
Strikes over cut wages in the transit industry
Stikes over wages at Carnegie Steel
5
Alexander Graham Bell
invented the light bulb
banker, financier
invented the telephone
developed the theory of natural selection
6
What was the most important effect of Edison's Power Plant?
Electricity enabled the advent of Cable TV
The Electric Chair could be used to kill criminals
Factories could be powered 24 hours/7days, making more goods
Cell phones can be charged so you dont miss a call
7
Which law was passed to stop corporations colluding and becoming monopolies?
Interstate Commerce Act
Pure Food and Drug Act
Anti-Monopolistic Act
Sherman Antitrust Act
8
What does
inflation
mean?
Sustained price decreases - lead to increased value of money
Sustained price increases - lead to decreased value of money
That you have to pay in cash
Prices decrease
9
What is a trust?
neither answer
both answers
legal concept allows one person to manage another's property
new way to merge businesses not violating monopoly laws
10
What is vertical integration?
Company take over other parts of its supply chain
Two companies agree to become one big company
One company buys another company
Company takes over another company at same production stage
11
Henry Ford found that he could produce cars less expensively by:
Using plastic instead of steel for cars
Using designs make in China
Using a moving assembly line
Hiring only immigrants to work his factory
12
The ideas of the cartoon illustrate which of the following Industrial Revolution issues?
Economy was producing an equitable society
Senate passed legislation to promote fair business practice
Labor unions had too much influence in government
belief that monopolies controlled the US Senate
13
Which best describes the significance of Thomas Edison?
invented the incandescent light bulb
invented the telephone
invented the elevator
invented the assembly line
14
John D. Rockefeller...
railroads
oil
steel
mining
15
The Populist Party was chiefly composed of
Northern factory owners.
Northern abolitionists.
Eastern businessmen.
individual farmers.
16
What is a trust?
friendship
Supreme Court Justice
muckraker newspaper
a monopoly
17
Stocks, share holders, corporations, labor issues, and trusts are best associated with...
Rise of Big Business
Labor Unions
Inventions and Inventors
Industrial Revolution
18
What is deflation?
When there is a reduction in the supply of money or credit
The rate at which the general level of prices goes down
when the general level of prices goes up
19
Who was Henry Ford?
He defended Scopes in the Scopes Monkey Trial
He was one of the first to use the assembly line
He was very important to the aviation industry
He defended the Bible and traditional belief
20
Which of the following is a TRUE statement about monopolies?
they discouraged labor unions
they limited competition
they lowered prices
they promoted safe working conditions
21
What is a corporation?
Stockholders own share in profits
A mafia run business
Stockholders responsible For debt; not profit
A crap shot game in Las Vegas
22
In the late 1800s, how did railroad monopolies create economic hardships for farmers?
charging high prices to ship agricultural goods to market
separating farmers from profitable markets in western cities
isolating farmers from technological developments in cities
claiming productive land for business leaders to develop
23
What are stocks?
Isn't that the bird that delivers babies?
The shares of a company that are sold.
When you poke something.
Grrrr...
24
Henry Ford's ideas led to increased ___.
Opportunity
Wants
Productivity
Services
25
Andrew Carnegie...
railroads
oil
lumber
steel
26
Horizontal Integration
Taking over competitors to monopolize the market.
Selling a business for double the initial investment.
Buying stock with insider information in hopes to get rich.
Creating a new business in hopes to revolutionize a market.
27
Populist Party
political party to represent interests of farmers/workers
political party that focuses on business interests
political party that focuses on federal regulations
political party that focuses on local politics
28
Vertical Integration
Restrictions on companies to stop monopolies.
Big business owners giving away stock in company to workers.
U.S. government attempt to control big business.
Combines all phases of production into one organization.
29
The Homestead Strike was a protest...
in Colorado demanding safer working conditions.
against the Pullman Car Company's unsafe working conditions.
in Chicago demanding an eight-hour workday.
against the Carnegie Steel Company's plan to cut jobs.
30
The Populist Party fought for...
lower taxes for wealthy job creators.
allowing population to increase in border states.
better conditions for farmers and workers.
the rights of big business.
31
Why did President Cleveland intervene in the Pullman Strike of 1894?
strike endangered the national defense
the Governor of Illinois requested the troops
strike interfered with U.S. mail and interstate commerce
strike endangered national health and safety
32
Which of the following was a positive effect of the Industrial Revolution?
Long hours worked by children
Exploitation of mineral resources
Pollution
New inventions and new jobs
33
How did industrialization impact women?
many women practiced traditional economic activities
many women entered the paid workforce
it had no impact on the lives of women
women moved from cities to rural areas
34
Which best describes the significance of Andrew Carnegie?
invented the assembly line
he harnessed electricity into a usable power source
invented the telephone
used the Bessemer Process to produce steel at a high rate
35
JP Morgan
Investment Banking
Steel
Railroad
Oil
36
mass production method that lowered the cost of goods
Newfound Line
Assembly Line
Blacksmithing
Ferry Line
37
How do monopolies threaten free enterprise?
They eliminate competition.
They control prices.
They aren't concerned with customer service.
All are true.
38
The growth of monopolies and trust by big business, eventually led to -
better working conditions
increased government regulations
a decrease in consumer prices
a decrease in urbanization
39
Social Darwinism is the idea that ...
Weaker people should be killed off
Some people/businesses are stronger and better than others
Bigger animals eat smaller animals
All people/businesses are created equal
40
The Bessemer process allowed for the mass production of steel.
False
True
