History Study Guide

Stockholders elected company officials and determined company policies.

False

Farm life kept a man from being his own boss.

False

A factory worker was more in control of his own destiny than a farmer.

False

Harriman, Rockefeller, and Vanderbilt made fortunes from the railroad industry.

False

Most of the profits of corporations went into making their leaders wealthy.

False

Much of the money that went into building corporations came from shipping and trade after the Civil War.

False

The Industrial Revolution changed the life of the average worker only moderately.

False

Why were labor unions needed?

Individual workers who objected to conditions were simply fired. Unions could present a united front against employers.

Unions formed on behalf of the working man were:

NLU AFL Knights of Labor

Corporations secured large amounts of money needed to run large-scale productions.

True

Corporations were formed when several businesses or businessmen joined to form one large organization.

True

Farm work was healthier than factory work.

True

It was difficult to get ahead in factory work.

True

Stockholders shared in profits made by the corporation.

True

Working hours on the farm were long.

True

What is the act of being united?

Unification

items of property an individual or business owns

assets

the total amount of money or property owned or used by a corporation or business

capital

Factors needed for big business to be successful included:

capital mergers business specialists

The government helped combat large industries by:

controlling working hours helping small businesses

the merger of several businesses into one

corporation

Some good things done by corporations for the country were:

improving production improving distribution adding to economic development

Early unions attempted to provide:

increased pay shorter hours small-business loans

a combining of entities

merger

When a business has exclusive control of a product, it has a .

monopoly

Advantages corporations brought to America included:

reduced unemployment larger variety of goods

one who invests money in a company or corporation

stockholder

Steps to control the power of corporations were taken by:

the government labor unions President Roosevelt

What did the Industrial Age do to the average working man's creativity and imagination?

took away the average man's creativity and imagination brought about assembly lines, which eliminated creativity made it so the average working man could only take orders, not think

one having great wealth and power

tycoon