Guilded Age 9th Grade SS 1/2

Front

Invented the lightbulb and electricity

Back

Thomas Edison

Front

Invented the telephone

Back

Alexander Graham Bell

Front

Made the process of main iron into steel easier and cheaper

Back

The Bessemer Process

Front

When one firm (business) has complete control of a product or service. (There is no competition)

Back

Monopoly

Front

Smartest and strongest business owners will grow rich. What concept does this statement relate to? Options: The Bessemer Process, Vertical Consolidation.

Back

Social Darwinism

Front

One firm buys all the SMALLER firms

Back

Horizontal Consolidation

Front

Control price of your product by owning every step of the way

Back

Vertical Consolidation

Front

Founder of Standard Oil Company. Owned 90% of oil refineries in the U.S. Created a trust because of how much he was worth.

Back

John D. Rockefeller

Front

Group of small companies acting like one large company. A single board runs it.

Back

Trust

Front

What is the term that describes the following statements?
1. All Americans enjoyed a higher standard of living.
2. The income gap between farmers and factory workers widened.
3. Wealth was concentrated in the hands of few wealthy industries.

Back

Distribution of Wealth