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17 Cards in this Set

  • Front
  • Back
Effects of steel refining
1. railroad's iron rails were replaced with strong, steel ones
2. Used in buildings to make a skeletal frame in order to design larger buildings
3. Used it to make nails and wire b/c its resistance to rust
Effects of oil refining
1. Could turn oil into kerosene to burn in a lamp
2. Used for waxes & lubricating oils for machines
Transportation innovations
1. Railroad expanision: easier to travel, companies could have national markets
2. Carriages and airplanes
Communication innovations
1. Telegraph, type writer, telephone
2. Effects: more women in workplace and faster information
Transcontinental railroad
Railroad that ran from Nebraska to the Pacific Ocean
communication tool created by Samuel Morse
Besemer Process
Alexander Holley, burned off impurities in iron with a blast of hot air
Edwin Drake
Found oil in P.A.- started oil craze
Alexander Graham Bell
invented the telephone
Thomas Edison
invented telegraph that could send 4 messages at a time, made advances in electrical devices, opened 1st electric power plant
Where private businesses ran the industries and the competition caused how much workers were paid and the prices
Free enterprise
That the economy would grow if businesses were free from gov't rules and could compete in a free market
Social darwinism
Survival of the fittest- helping the poor slowed social progress
When companies handed over all their stocks to a common board of trustees- reduced competition
When a trust gains control of a whole industry- raised price and lowered quality
Vertical integration
Carnegie- to buy companies involved in the production of the materials the product used
Horizontal integration
Rockafeller- buy out the competition