Social Studies Test

Front 1

Inventions

Back 1

influenced industrialization, changed the way most items were produced, allowed for mass production and a decrease in the need for skilled laborers.

Front 2

Patent

Back 2

licence for a new invention

Front 3

Thomas Edison

Back 3

“wizard of Menlo Park”/ had an invention factory where he systemized the invention process

Front 4

Henry Ford

Back 4

created the assembly line which allowed for mass production of the first affordable auto.

Front 5

Telegraph

Back 5

used Morse Code to make it possible to telecommunicate for the first time.

Front 6

Mass Production

Back 6

reduced the cost of producing goods, eliminated the need for many to hire skilled craftsmen in favor of unskilled workers who could do a single part of the job faster and for little pay

Front 7

Assembly Line

Back 7

manufacturing process by which a group of unskilled laborers, trained in a single part of the production process make a finished product. Think conveyor belt.

Front 8

Interchangeable Parts

Back 8

components in the production process that are identical to all of the others. They can be used in exchange for one another, making the assembly line ideology viable.

Front 9

Free Enterprise System

Back 9

system in which business are free to sell goods at the market place, and the government plays a limited role in the economy. Competition is encouraged. Capitalists, or investors, prevailed. Laissez-faire capitalism (let the business be).

Front 10

Trusts

Back 10

limit competition; a group of corporations are run by one board of directors. Union leaders, laborers and small business owners saw them a s a threat to the nation.

Front 11

Stock

Back 11

a share in a business. Investors encouraged the growth of big business.

Front 12

Dividend

Back 12

a share of a company’s profits.

Front 13

Coroporation

Back 13

a business owned by investors (people who pay money to own stock, and attempt to make a profit)

Front 14

Rebate

Back 14

a discount for certain customers, often a secret deal worked out between the powerful trusts and the railroads.

Front 15

Monopoly

Back 15

a single company controls a business or industry. The customer had little or no choice because of the lack of competition.

Front 16

Rockefeller

Back 16

Standard Oil Trust, believed in Social Darwinism- survival of the fittest in business and competition is wasteful and inefficient; laissez- faire business should prevail.

Front 17

Carnegie

Back 17

Steel Industry leader, and vertical integrator. Grew rich when steel was now cheaper due to the Bessemer Process. Believed the duty of the wealthy was to be philanthropic, or charitable. Used his wealth for education and libraries.

Front 18

Robber Baron

Back 18

used ruthless business tactics, believed in Social Darwinism, put small businesses out of business.

Front 19

Vertical Integration

Back 19

having control of the entire production process, all of the steps to creating the finished product.

Front 20

Sherman Antitrust Act

Back 20

passed by Congress to regulate the power of big business, outlawed trusts, keep big business from eliminating competition. Very weak in ending trusts, government generally supported big businesses; lots of corruption.

Front 21

Strike

Back 21

workers protest against perceived unfair labor conditions by ceasing to work, but the government often sided with business owners, and even used military force end them; Homestead and Pullman strikes were unsuccessful for this reason.

Front 22

Labor Unions

Back 22

worked to unite workers in order to work together for changes in work conditions.