Gilded Age Robber Barons Flashcard

Front

What is a monopoly?

Back

Control of an entire industry

Front

Who was America's first billionaire?

Back

John D. Rockefeller

Front

What industry did JP Morgan dominate?

Back

Banking and finance

Front

What is 'horizontal integration'?

Back

Buying up companies to eliminate competition

Front

What is 'vertical integration'?

Back

Owning every aspect of the business

Front

Why did Rockefeller build an oil business?

Back

Oil was needed to fuel factories and railroads.

Front

What is a robber baron?

Back

A wealthy and unscrupulous businessman from the late 19th century.

Front

What is a philanthropist?

Back

A philanthropist is someone who actively supports charitable activities and initiatives.

Front

Why was the era called the Gilded Age?

Back

The era was called the Gilded Age because it was marked by a thin layer of prosperity covering deep social problems.

Front

How did Vanderbilt build his wealth?

Back

Vanderbilt built his wealth through shipping and railroads.