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30 Cards in this Set
- Front
- Back
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Alexander Graham Bell |
Inventor of telephone |
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Year of the telephone |
1876 |
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Thomas Edison |
"The greatest inventor in history" Thanks to him most Americans had electricity in 1940 |
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4 of Thomas Edison's inventions |
first modern scientific lab, phonograph, motion-picture projector, mimeograph machine |
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George M. Pullman |
sleeping car |
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5 machines (advancement in agriculture) |
chilled iron plow, plow sulky, grain drill, gang plow, disc harrow. |
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George Washington Carver |
"the plant doctor" taught the importance of improved farming methods, diversification in agriculture and conservation of natural resources. Uses of peanut, soybean and sweet potato |
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Secretary of Agriculture |
Department that helped farmers |
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Capitalism |
economic system in which individuals are free to follow their economic pursuits as they see fit. |
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Free Enterprise |
It leaves the individuals free to make something of themselves if they have the enterprise |
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Capital |
Money to be used to make more money |
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Stock |
certificates of ownerships |
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Stockholder |
one who purchases the stock |
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dividends |
profits |
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proprietorship |
a business owned by one individual |
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consumer |
one who purchases a product |
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partnership |
a business owned by two or more partners |
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monopolies |
businesses which have virtually no competition and put the consumer at the mercy of big businesses |
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entrepreneur |
a person who organizes and manages a business undertaking, willing to risk failure for a chance at success |
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Protestant work ethic |
Americans looked upon the ability to work as a blessing and saw labor as a dignified way to fulfill their life responsibility. Rise of prosperity |
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New England |
textiles, shoes, and paper |
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Pittsburgh |
iron and steel center |
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Chicago and Kansas City |
meatpacking centers |
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birmingham |
center of the southern iron and steel industry. Known as "Pittsburgh of the South" |
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Andrew Carniege |
company was the leading producer of iron and steel in USA. Best remembered for helping to finance the founding of public libraries |
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John D. Rockefeller |
Founder Standard Oil company |
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The Granger Laws |
Attempted to force railroads to charge equal freight rates to all shippers |
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The Interstate Commerce Act |
forbade railroads to grant rebates, charge more for "short hauls" than for "long hauls" Limit competition |
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Sherman Antitrust Act |
Declared illegal any "combination in the form of trust or otherwise" |
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Benefits of Capitalism |
-Only economic system capable of providing the greatest material benefits for the greatest number of people. - 20th century the most financially productive age mankind has ever seen. -excellent quality, low prices |
