EOC Review #3: Industrial Growth

government policies regarding workers’ rights

high prices as a result of tariffs

an abundance of domestic goods

low prices on domestic goods

electric power

the railroad

turning petroleum into kerosene

mass producing goods

increased cost of moving freight

ended the practice of land grants

closed the American frontier

increased migration to the East

George Westinghouse’s

Lewis Latimer’s

Cyrus Field’s

Thaddeus Lowe’s

He is boasting about how cheaply he can produce steel.

He is lamenting about the difficulty of producing steel.

He is upset about the low returns he receives from producing steel.

He is worried about having the resources to make steel.

steep increase in prices

lower buying power

continued higher wages

decrease in spending

A corporation is easy to establish and there are very few costs to set up.

A corporation exists as a separate entity so owners have limited liability.

Each partner in a corporation benefits equally from the profits.

A shareholder can borrow money to help fund the corporation.

It halted strikes through the use of a federal court order.

It locked out workers who wanted to join unions.

It allowed only union members to work in the business.

It used arbitration to settle disputes between owners and workers.

Government policies should protect workers’ rights.

High tariffs should be imposed on exports.

Competition among companies should be regulated.

Supply and demand should regulate wages and prices.

by managing the stocks of other companies

by buying up the companies needed in the industrial process

by owning the stock of other companies

by buying out the competitors in a particular industry