us history chapter 13

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steel changed peoples lives by making possible the

construction of skyscrapers

cartels, monopolies, trusts, and horizontal and veritcal integration all share the goal of

increasing profits

capitalism fueled industrialization by

encouraging entrepreneurs to establish businesses

as farms became mechanized

farmers moved to urban areas

the Sherman Antitrust Act imposed limitations upon which group?

large corporations

which labor leader began the American Federation of Labor

Samuel Gompers

in which system does one company control the businesses that make up all phases of a products development

vertical integration

the ICC was formed to

oversee railroad operations

Horizontal integration differs from vertical integration in that it

consolidates many firms involoved in the same business into one giant company

which of the following limited membership to skilled craftspeople and focussed on economic reforms

American Federation of Labor

in the late 1800’s industrial workers

faced low wages and long hours in unsafe working conditions

which labor organization was founded first

Knights of Labor

a system for turning out large number of products quickly and inexpensively

mass production

a person who inveests money in a business venture to make a profit

entrepreneur

complete control of a product or service

monoply

an oil tycoon who used horizontal integration to decrease costs and increase profits

John D Rockefeller

a busines in which ownership is shared

corporation

a small, hot, dirty workhouse

sweatshop

the response to wage cuts at a carnegie Steel plant in 1892

Homestead Strike

the inventor who wanted to develop affordable lighting for homes

Thomas Edison

a labor union open to workers from any trade

Knights of Labor

a steel tycoon who used vertical integration to increase profits

Andrew Carnegie

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