Chapter 3

When a single company achieves control of an entire market, it is known as

A monopoly

What was one effect of industrialization on the U.S. economy in the 1870s

An increase in railroad construction in the west

Settling a dispute by agreeing to accept the decision of an impartial outsider

Arbitration

Workers who tried to organize a union or strike were often fired and placed on a list of "troublemakers" called the

Blacklist

To make rail service more reliable, in 1883 the American Railway Association

Divided the country into standardized time zones

The first oil well was drilled near Titusville, Pennsylvania by

Edwin Drake

One who organizes manages, and assumes the risks of a business

Entrepreneur

Which transcontinental railroad operated without government subsidies and was the only one not forced into bankruptcy?

Great Northern Railroad

The total value of goods and services produced by a country during a year

Gross National Product

A demonstration of striking laborers in Chicago in 1886 that turned violent, killing a dozen people and injured over a hundred, Which then led to the decline of the Knights due to the bad reputation

Haymarket Riot

How did inventions impact the Industrial Revolution

Inventions impacted the Industrial Revolution because technology was made and messaging or news was quicker to receive. It impacted the railroads with time zones as well.

A technique used by companies to break unions by refusing to allow workers onto the property was called

Lockdown

By linking the nations, railroads helped increase the size of markets for

Products

How did the railroads impact the US during the Industrial Revolution

Railroads impacted the US during the Industrial Revolution by an easier transport of goods; (steel, timber)

An organization of common laborers and craft workers in a particular industry

Teacher Union

What caused the Knights of Labor to decline?

The Haymarket square riot caused the Knight of Labor to decline. A nationwide strike was called to show support of an 8 hour workday. One striker was left dead in Chicago. 7 police got killed and 4 more workers died

What was the purpose of unions during the Industrial Revolution

The purpose of unions during the industrial revolution was to establish better working conditions

It made sense for big corporations to continue operating during poor economic times because

Their operating costs were small, compared to their fixed costs

What railroad began pushing westward under the direction of engineer Grenville Dodge?

Union Pacific

The American Federation of Labor pushed for closed shops, meaning the companies

could only hire union workers

How did railroads most impact farming in the west during late 1800s

they connected farms with distant markets for selling their harvest