The Rise of Big Business – Chapter 4L2. Entrepreneur: Andrew Carnegie Steel business Pittsburg, PA Controlled all of the steps of the steel-making process.

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Presentation transcript:

The Rise of Big Business – Chapter 4L2

Entrepreneur: Andrew Carnegie Steel business Pittsburg, PA Controlled all of the steps of the steel-making process “Do not make riches, but usefulness, your first aim.”

Entrepreneur: John D. Rockefeller One 42-gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make things like: perfumes, insecticides, dice, sweaters, ballpoint pens, paint, footballs, dresses, roofing, umbrellas, shoe polish, hair coloring, lipstick, trash bags… different items! Refine oil; turn it into useful products Standard Oil Company Monopoly – company that controls an entire industry so that there is no competition

Entrepreneurs: William Randolph Hearst Newspaper Madame C.J. Walker Shampoo George Westinghouse Alternating Current J. P. Morgan Banker

Economics - Manufacture, Distribution, and Consumption of Goods and Services Free Enterprise Consumer Producer Resources: human – people capital – tools, money natural – things found in nature

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