Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
13 Cards in this Set
- Front
- Back
|
What are two economic effects of the inventions of the late 1800's?
|
More jobs were created , people spent more money , businesses became more efficient , and prices began to fall.
|
|
|
What are three things that Thomas Edison invented?
|
Storage battery , motion picture , light bulb , tattoo pen , phonograph , power plant ,
|
|
|
Who was the head of the standard Oil trust company?
|
J.D Rockefeller
|
|
|
What is vertical intregrated?
|
You own everything involved with your company you dont burrow anything from other companies you make and buy everything yourself.
|
|
|
Why can you charge less for your product if your business is vertically integrated?
|
You can charge less because you own everything and don't have to pay any other of the same business as you back .(you bought it with your own money.)
|
|
|
Describe two negatives of monopolies.
|
They treat their workers poorly , raise prices , bribe the government , don't improve their product and put small businesses out of work.
|
|
|
Name two positives of monopolies
|
They spend a ton of money on taxes , they create a ton of jobs and donate millions to charity and they were never in danger of being put out of business.
|
|
|
Identify two similarities John D. Rockefeller and Andrew Carnegie shared.
|
They both gave a lot of money to charity, they both built universities , were born poor , and were both very intelligent and worked hard.
|
|
|
What were three bad conditions workers were facing in factories?
|
They worked long working hours , low pay , unhealthy , and had no safety laws.
|
|
|
Who was the powerful banker that bought up all the steel and railroad companies in the late 1800s ?
|
J.P Morgan
|
|
|
What invention did Henry Ford improve upon ?
|
The assembly line.
|
|
|
How did the assembly line affect the prices of cars?
|
Prices go down because supply is way up (mass production)
|
|
|
|
|
