Presentation on theme: "Big Business Study Guide Review"— Presentation transcript:
1 Big Business Study Guide Review Write 3 – 5 “first person clues” for the vocabulary word, person, or event from 1900s America.Try to include the 5 W’s.Start general/vague, get more specific with each clue.
2 Social Darwinism I am a theory of life. I was created by Herbert Spencer in the late 1800s/early 1900s.The original idea came from Charles Darwin.My main point is large businesses can crush small businesses.I justified the actions of robber barons during the Industrial Age.
3 Monopoly They have control over all of an industry Owners control the prices of goodsOwners control the supply/quantity of goods
4 Jane Addams Came from a well-to-do family in a small Illinois town Wanted to help poorRepaired the house and made it into a community center where neighborhood residents could learn to speak English, discuss political events, and hold celebrationsOpened a day nursery, working parents no longer had to leave their children unsupervised
5 John D. Rockefeller Robber Baron Partner with Standard Oil Sent out thugs to intimidate peoplePartner with Standard OilHis business became a monopolyCould lower prices to where competitors went out of business, then raised the prices again
6 Vertical Integration Andrew Carnegie used this for his success. Joining all areas of one business.Raw materials, Production, Distribution join in one company.
7 Union I was developed to help people in a workforce I was first made in the mid 1800sThe idea came from workers being treated unfairlyI was made so that all workers doing the same job no matter what age or gender will receive the same pay and benefitsWorkers join me to get equal rights while working
8 Knights of Labor First labor union that lasted more than a few years Formed in 1869, growing into the 1880sAllowed all types of workers to joinWorked for an 8 hour work dayMary Harris Jones was an active campaigner
9 AFLStarted in 1886Its chief objective was to create better working conditions for laborersStrikes were usedWorkers started to receive rights
10 J.P. Morgan I had banking experience at Peabody Banking Co. My net worth was 1.5 billion dollars.I manipulated the price of gold to my advantage making me what some would call a “Robber Baron”.I was quoted saying, “When you expect things to happen, strangely enough, they do.”
11 Ida B. WellsWrote articles & gave speeches to expose racism that motivated mob murdersSpent time protesting lynchingWas inspired to end racial violence after mob murders began to happen in the late 1800s and went unrecognized
12 Captain of Industry Gave a good name for businessmen. Believed monopolies are wrong.Andrew Carnegie was one.Was not a baron.
13 IndustrializationI am the change from agriculture to manufacturing as the main economyHenry Ford was part of the “movement”This made America full of machines, factories, coal mines, and railroads
14 Andrew Carnegie Started work at 14. Built a massive steel plant to produce railroad tracks.Owned numerous steel plants.I was a captain of industry.I was very wealthy by the time I was 40.Donated my profits back to society.
15 Natural SelectionProcess that better allows adaption to specific environment pressures.Herbert adapted social darwinism from these ideas.Charles Darwin.Fittest survived.
16 Laissez-faire Hands off economy French for let be The U.S. had this type of economy during the industrial revolutionInvolvement of no government
17 Mary Harris Jones Known as “most dangerous woman in America” Lost husband & children to yellow feverOrganized United Mine WorkersBosses feared herFought for 8 hour workday, equal pay for men & women doing the same work
18 Ida Tarbell Conventional minded woman Famous Muckraker Wrote detailed articles about Standard Oil CompanyExposed ruthless methods John D. Rockefeller used to Crush Competition
19 CartelI am a nounLiterally, I mean: placard, from carta, a leaf of paperI am a business trying to limit another business
20 Lewis Hine I am a photographer I specialize in child labor I am considered a muckrakerI went undercover to uncover the dangerous conditions in which children were being placed
21 Muckraker I am a writer whose investigative My articles or books attacked abuses such as child labor or business corruptionUpton Sinclair is an example
22 Samuel Gompers I was a cigar maker born in England I led the American Federation of Labor (AFL)I advocated boycotts as a way of peaceful protest.I refused AFL involvement in the Pullman Strike, causing it to collapse, unsuccessful.
23 Charles DarwinCreated scientific theories about the origin of species.Theory of the evolution of mankind.Believed in “Natural Selection.”
24 Nouveau RicheThe wealth generated by industrial capitalism and big business led to the start of meI have my own philosophyMy people are a self made people who proclaim our importance with showy displays of wealthWe led Mark Twain to call the late 1800’s the Gilded Age
25 Florence Kelley Battled child labor Supported women’s rights Father taught her to readGraduated from Cornell
26 Gilded Means “Covered with gold” Mark Twain named this time period in the late 1800’sWealth generated by industrial capitalism from businesses led to a large rich classPeople showed their importance by showing their displays of wealth
27 Robber Baron I am not a nice person. I am very wealthy. I describe some business men.J.P. Morgan and John D. Rockefeller could be called me.You might get my name if you use questionable practices to become rich.
28 Strike Many turned Violent Happened because people wanted better wages Some people were killed
29 Upton Sinclair Muckraker Wrote The Jungle in 1906 Exposed the bad practices about the meat packing industry
31 Free Market Economy I am ran by the people The government can’t control meLaissez-Faire is what I’m all about
32 Mass Production Big business in the late 1800s/early 1900s Producing large amount of goods at once
33 Nouveau Riche I am a group of people with their own philosophy. These people lead Mark Twain to call the late 1800’s the Gilded Age.Many of these people were robber barons.They liked to show off their money and wealth.
34 PhilanthropistA person who donates large amount’s of their wealth to promote common good.Andrew Carnegie donated to charityRockefeller donated to education
35 Variable Costs Business costs that changes Materials, utilities, worker’s wages
36 Command Economy I am run by the government Small nations like North Korea and Cuba still run by thisAll people were considered whole and equalGovernment controls production and distribution
37 InjunctionA court order requiring an individual or company to do something, such as end a strikeGained powerful legal weaponsSamuel Gompers refused to swing his powerful AFL1895 the Supreme Court upheld the president, causing the strike to collapse
38 Haymarket Riot A bomb was thrown into the crowd The bomb killed 7 people and wounded 67 others.8 radical strike leaders were put on trial for murder7 of the 8 people were sentenced to deathThis uproar helped employers defeat the 8-hour workday.
39 Pullman Strike Depression from 1893-1897 Company town cut wages of workersWorkers joined Eugene V. Debs railroad unionWorkers went on strike, wouldn’t handle Pullman’s boxcarsViolence broke out in Chicago
40 Economy of Scale Big factories used this This was put to practice at the turn of the centuryAs the # of goods being produced goes up, the price of the good goes downThis is important because they don’t have to charge as much so they make a lot of money
41 Horizontal Integration I am a form of merger.Business owners use me as they buy up businesses in the same industry.
42 Reform I can be a noun or a verb. I reflect changes that make society a better place to live.
43 Traditional EconomyHunting, gathering, fishing, and bartering are important to me.I am represented by Native Americans and the Amish Community.
44 Mixed Economy I am the most common type of economy in the world today. I am driven by the supply of businesses and the demands of customers.The government is involved, protecting its citizens.
45 Fixed Costs I am an expense associated with running a business. I do not fluctuate much.Taxes, rent are examples of me.