chapter 19

Explain the Sherman Antitrust Act:

secured trade and commerce from the monopolies. It made sure that competition was possible and it also shattered monopolies.

Explain how Henry Ford was able to make the automobile affordable:

Henry Ford introduced the assembly line which led to mass production of the automobile. Using the law of supply and demand, because there were so many cars being made the price went down.

Choose either John D. Rockefeller or Andrew Carnegie and explain how they made their fortune:

John D Rockefeller made his fortune from oil. In 1870, he organized the Standard Oil Company of Ohio and dominated the oil industry. He used horizontal interrogation to build his empire. He was in philanthropy Andrew Carnegie made his fortune from steel. By 1890 Andrew Carengie dominated the steel industry with his company, the J. Edgar Thompson Steel Works. He used vertical interrogation to build his empire. He was in philanthropy

Explain/describe the Triangle Fire. What happened? Did people die? What did the results of the Triangle Fire lead to?

The Triangle Fire happened in an unsafe NYC factory. A large number of women and children were killed in the factory since they couldn´t get out.

From 1865 to 1900, how did the growth of industry affect American society?

The percentage of Americans living in urban areas increased.

Choose 2 inventors. Describe what they invented and tell why it was important:

Thomas Edison invented the electric lightbulb. The invention is important because of how It´s easier and more possible to see in the dark. Alexander Graham Bell invented the telephone. The invention is important because the telephone made communication easier and faster.

The term business monopoly can best be described as:

a company that controls or dominates an industry

A negative effect of holding companies, mergers, and pools on the United States during the late 19th century was that these combinations:

decreased competition between businesses

Henry Ford produced a more affordable car primarily because his company:

developed a less expensive method of production

During the later half of the 19th century, many business organizations in the United States combined into large corporations because:

efficiency in production methods could be increased

Industrialists of the late 1800s contributed most to economic growth by:

establishing large corporations

One factor that furthered industrialization in the United States between 1865 and 1900 was the:

expansion of the railroads

After the Civil War, one way business leaders tried to eliminate competition was by:

forming monopolies or trusts

Industrialists of the late 1800s used pools and trusts to:

increase profits by minimizing competition

The Rockefeller Foundation, Carnegie Hall, and the Morgan Library illustrate various ways that entrepreneurs and their descendants have:

supported philanthropic activities to benefit society

A significant contribution to the industrialization of the United States was Henry Ford's development of:

the assembly line

Business leaders John D. Rockefeller, J. P. Morgan, and Cornelius Vanderbilt were referred to as robber barons primarily because they:

were ruthless in dealing with competitors