: connected the east and west and increased the settlement of the west. Created the 4 time zones and made it possible to transport goods for trading.
: little government control in the market economy
: a large business where people can buy stock and invest in the company e.g. Walmart
: development of cities
: a legal body to hold stock in many companies---it leads to monopolies. Bad for consumers because it eliminates competition. No competition leads to high prices for consumers.
a group of journalists that focused on the negatives of immigration, the tenements
, and big businesses.
: business that gains control of an industry by eliminating other competitors
native-born Americans who wanted to eliminate foreign influence--immigrants
: ruthless business owner e.g. Carnegie, Rockefeller
taxes on imported good----positive for domestic business because foreign goods cost more
: muckraker that expose the unsanitary condition of the tenements
: muckraker that expose John Rockefeller bad business practices
: social reformer—created Planned Parenthood for the poor
Benefits of Transcontinental Railroad.
How did it help America? What did it do to improve America’s economy? Increase the industrialization process in the United States and communication/trade was made easier.
What were the impact of Rockefeller and Carnegie on America and the growth of big businesses.
Trusts and Monopolies and why they were bad for American consumers in the long run?
Created monopolies that led to corporations. Help America businesses grow in the oil and steel areas.
Negatives: created bad working conditions, low wages, long hours, poor remains poor, horrible tenements. Higher prices for products.
Creation of more labor unions
High prices because there was NO COMPETITION
Why tariffs were beneficial to American Industrial Growth?
They(American businesses) got more money because foreign goods cost more and Americans wanted to buy cheaper products.
Importance of Edison’s inventions
The light bulb: people participated in night activities e.g. watching sports, going to the movies,
The phonograph: brought music to people homes
Urbanization and how it impacted America (Positives and Negatives of Urbanization)
Positive: cities grew quickly, brought in more work opportunities, development of skyscrapers
Negatives: low pay, developments of tenements—slums, increase in immigration, nativism,
Advantages/Disadvantages of Industrialization
Advantages: help the America society in the business sector, increase high school graduates, creation of cities, jobs, new inventions, made the American lives easier—e.g. washing machine
Disadvantage—poor class, immigration, unsafe working conditions, e.g. mines increase in child labor
How did Muckrackers help change America for the better? Started the progressive era and caused the government to start passing reform acts.
Laissez Faire Economics: Without government control
Sherman Anti Trust Act: law that prevented monopolies----this is why America does not have monopolies present day
17th Amendment: direct election of senators---in order to stop Political Machines e.g. Boss Tweed
Why would Government want to regulate businesses?
To protect consumers/the people and prevent monopolies, unsafe working condition and unfair business practices. E.g. Shirtwaist T-shirt Factory, young girls died from the fire