Gilded Age industry

What is the Gilded Age?

A period in late 19th century America marked by rapid industrialization and economic growth.

Define 'robber baron'.

Wealthy industrialists who exploited workers and resources to amass fortunes.

True or false: The Gilded Age saw significant labor movements.

True, because workers organized to demand better pay and conditions.

Difference between monopolies and trusts?

Monopolies control a market; trusts are agreements to limit competition and raise prices.

Fill in the blank: The ________ Act aimed to curb monopolies.

Sherman Anti-Trust Act

Who was Andrew Carnegie?

A steel magnate who led the expansion of the American steel industry.

What did J.P. Morgan do?

Financed and consolidated industries, particularly in railroads and steel.

True or false: The Transcontinental Railroad was completed in 1869.

True, it connected the east and west coasts, boosting trade.

What is vertical integration?

A business strategy where a company controls all stages of production.

Identify one major labor strike.

The Homestead Strike of 1892, protesting wage cuts at Carnegie Steel.

Question: What was the impact of the telephone?

Revolutionized communication, boosting business efficiency and growth.

What is horizontal integration?

A strategy where a company acquires competitors to gain market share.

Name one major invention of the Gilded Age.

The electric light bulb, invented by Thomas Edison, transformed urban life.

True or false: Child labor was common during the Gilded Age.

True, many children worked in factories under harsh conditions.

Fill in the blank: The ________ movement aimed to address social issues.

Progressive

Who was John D. Rockefeller?

Founder of Standard Oil and a key figure in the oil industry.

What was the main goal of the AFL?

To organize skilled workers and promote their interests.