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