Gilded Age Topic 1

70 cards   |   Total Attempts: 182
  

Cards In This Set

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True or False.Andrew Carnegie was an immigrant to America from France.
False
What is the proper order of the jobs Andrew Carnegie had from the time he came to America to the time he died?
Bobbin boy, telegraph messenger boy, assistant to railroad tycoon, businessman & investor, owner of the Carnegie Steel Company, philanthropist
What promise did Carnegie make himself at age 33?
To stop working in two years so he could help others less fortunate
How did Carnegie become so successful in the Steel Business?
He used the Bessemer process to produce the steel, and kept employee wages low
Who was Henry Clay Frick?
Carnegie's manager at the Homestead Steel Mill that called in Pinkerton Detectives to break up a strike resulting in the deaths of workers
What was the relationship between Andrew Carnegie and J.P. Morgan?
J.P. Morgan bought out Carnegie Steel
What was life like for industrial workers in the Gilded Age?
Poor working and living conditions, low wages, and long hours
What was the Bessemer Process?
An inexpensive and quick method of converting iron to steel
How did the Bessemer Process speed up industrial growth in America?
Because it produced a versatile metal that was reasonably priced, and could be used to construct rails and buildings
What word means - when you help fund a business or purchase shares in a business in return for some of the business's profits?
Investing
What is a tycoon?
a very wealthy and powerful business person
What term describes when a country's trade and industry are controlled by private businesses rather than the government?
Capitalism
True or false? John D. Rockefeller was a philanthropist.
True
What is the difference between an oil prospector and an oil refiner?
An oil prospector is a person who searches for oil by drilling and a refiner uses equipment to prepare oil for people to use.
What is a monopoly?
When one person or business owns all of how one product is made and sold