Reading guide What is meant by the age of big business?
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The Expansion of American Industry Chapter 7, Section 1 Reading guide
It is meant by the age of big business when business leaders pooled funds and resources to form large companies.
Some inventions were electricity, telephones, steel and refining oil. These changes brought better living conditions and technology.
Some factors were the introduction of new technology, the migration of different people into North America seeking the American dream.
Social Darwinism means all animal life had evolved by a process of natural selection, which only the fittest survived to reproduce. This term applied during the era by rich and smart people taking advantage of the poor, unfortunate, and dumb people to survive.
Monopoly is when a company eliminates or buys it’s competitors.
A cartel is a loose associations of business, mostly formed secretly, making the same product. These associations would limit products when supply was low to make the price high.
A trust is a combination of companies that turn over their assets to a board of trustees to control prices and competition in a particular industry. Trust was used so people who owned a particular industry could hold control of their competitors.
A horizontal consolidation is ownership in one area of production of industry, having influence on every aspect of the making. This was used by Rockefeller. He controlled the process of refining the oil, also controlling the raw materials and the oil to sell.
Low payment, unsafe working conditions, no payment increase are some economic hardships that made life for working people so difficult.
Women were only chosen for simple step garment sewing, and had less pay than men. Women in the factories did not enjoy at all, having no chances for advancement in factory work. Directory: zerokio zerokio -> Alft/ Kyle/ Van Over American Studies 1-2 zerokio -> Borrar despues: informacion para el outline y essay Download 5.9 Kb. Share with your friends:
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