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History Ch. 4 Test
Terms in this set (20)
Part of a corporation's profits are paid to each shareholder in the form of a ______.
______ Is gaining control of all the steps involved in turning raw materials into a finished product.
______ Is created when a state legislature allows a group of people to sell stock to fund a business enterprise.
______ Makes it possible for the cars of one railroad line to use the tracks of another railroad line.
Buying something on the ______ means that it can be paid for over a number of months rather then all at once.
John D. Rockfeller
Founded Standard Oil Company.
Steel Industry genius, developed horizontal integration.
Alexander Graham Bell
Invented the telephone.
Samuel F. B. Morse
Invented the telegraph.
Found out how to make steel cheaply.
Thomas Alva Edison
Over 1000 patented devices (light bulb, phonograph).
Incorporated U.S. Steel.
What three important trends shaped American life in the decades after the Civil War?
Expansion of Industry / More Western Settlement / Cities Grow.
What factors encouraged the growth of industry in the United States after 1860?
Many Natural Resources / More Workers / Large amount of Capital / New Inventions.
How did steel production change during the 1860s? Why was steel important to the industrialization of America?
Bessemer process increased it by 20 times. Used in RR's Buildings, Ships, and Machines.
How did the growth of vast railroad networks affect American Life?
Brought East and West Closer. Troops, mail, trade moved faster. West settled faster.
What inventions revolutionized communications in the 1800s? How did these inventions boost industry?
Telegraph, Telephone. Sold stocks faster, News moved faster, allowed goods to be ordered.
What are three advantages that corporations have over other forms of business organization?
Can raise a lot of Money fast, limited liability, not affected by death.
What problems did monopolies create?
Decreased competition and raised prices.
"What looks like a stone wall to a layman is a triumphal arch to a corporation lawyer." What do you think the author meant?
`Laws look different to lawyers and non-lawyers.
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