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Terms 2
Industrial Revolution
22
History
9th Grade
09/14/2010

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Cards

Term
Edwin L. Drake
Definition
man to setup oil well & drill for oil
Term
Thomas Edison
Definition
man to invent electric lightbulb & power plant
Term
General Electric
Definition
an electric company
Term
George Westinghouse
Definition
created an alternating current & transformer to boost power levels
Term
Samuel Morse/Morse code
Definition
created the telegraph, language for telegraph
Term
Alexander Graham Bell
Definition
man who invented the "talking telegraph" or the telephone
Term
American Telephone & Telegraph Company
Definition
company that built long distance telephone lines
Term
Henry Bessemer/Bessemer Process
Definition
invented a new process for making steel in an easier and cheaper way, made it possible to mass produce steel
Term
John A. Roebling
Definition
designed a suspension bridge with thick steel cables suspended from high towers to hold up the main span, longest in the world,the Brooklyn Bridge
Term
Brooklyn Bridge
Definition
 a suspension bridge with thick steel cables suspended from high towers to hold up the main span, longest in the world
Term
John D. Rockfeller
Definition
formed the Standard Oil Company, gave lots of money to charity, used some shifty methods to gain control of the oil industry
Term
Standard Oil Company
Definition
John D. Rockfeller's oil company
Term
Andrew Carnagie/Carnagie Steel
Definition
grew up poor and became rich, had a steel business, gave much of his money away to charity
Term
Gospel of Wealth
Definition
Andrew Carnagie's ideas about wealth, everyone is free to become rich, then they should give much of their money to charity
Term
Social Darwinism
Definition
society should interfere with competition as little as possible, opposed government protecting workers, believed government should stay out of the affairs of business men who were "fit " to become rich
Term
Oligopoly
Definition
a market structure which is dominated by only a few large profitable firms
Term
Monopoly
Definition
complete control of a product or service 
Term
Cartel
Definition
a loose association of businesses that make the same product
Term
Vertical Consolidation
Definition
gaining control of the many different businesses that make up all phases of a product 's development 
Term
Horizontal Consolidation
Definition
involves bringing together as many firms of the same business
Term
Trust
Definition
the board of trustees managed the companies as a single unit
Term
Sherman Antitrust Act
Definition
outlawed any combination of companies that restrained interstate trade or commerce
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