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RiseofBigBusiness Answer Key

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People
#1 The inventor who established the American Telephone and Telegraph Company Alexander Graham Bell
#2 Creator of Standard oil, Trusts, and Vertical Consolidation John D. Rockeller
#3 Became Rich through the Steel Industry and Vertical Consolidation Andrew Carnegie
#4 Created the First Suspension Bridge Roebling
#5 Inventer expanded the used of electricity through Alternating current George Westinghouse
Vocabulary
#1 Those who gave away weath to support charity, museums, universities, and Libraries Philanthropists
#2 Idea that those with the best business sense are more fit to succeed. Justification for Survival of the Fittest in Capitalism Social Darwinism
#3 According to this theory, once one becomes rich they should give money back to benefit humanity Gospel of Wealth
#4 When a company has no competition for the marketing of its product and complete control over a specific Industry Monopoly
#5 This term implies business leaders sought to maximize their profits by exploiting their workers to get rich unfairly Robber Barons
Changing American Business
#1 This Industrial accomplishment became a symbol of American Ingenuity Brooklyn Bridge
#2 What was the general reaction of the Fed. Gov. to early Labor Unions and Strikes Gov sided with Businesses...usually sent in military to break strike
#3 As a result of harsh working conditions...workers often took action by....? Striking / Forming Labor Unions
#4 How did the U.S. encourage Railroads? Giving away Large LAND GRANTS
#5 This act was meant to break up monopolies and promote free competition in the Market Place Sherman Anti-Trust Act
Miscellaneous
#1 This famous Banker made his money giving loans to emerging businesses and later created the worlds largest steel Corporation JP Morgan
#2 Thomas Edison is Most Famous for inventing this The Light Bulb
#3 This technological achievement connected the East and West of the Nation, and opened up trade throughout the nation Transcontinental Railroad
#4 This individual was the first to drill for oil Drake
#5 The Transcontinental Railroad was completed in what location Promontory point, Utah
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Final Question