Ch 9 Study Guide

American History

 

  1. Name and explain 5 reasons industry increased in the US after the Civil War?

 

 

 

  1. What does laissez-faire mean in regards to gov’t intervention in the economy?

 

 

  1. In free enterprise, what 3 things will affect prices the most?

 

 

  1. What did the US gov’t do in the mid to late 1800s to help business? How did these things help?

 

 

  1. What was the Transcontinental RR? When was it completed?

 

 

  1. What type of people helped to build the Transcontinental RR? Why these people?

 

 

  1. What innovations helped to make train travel more efficient? How did these things help?

 

 

  1. How did the RR’s get much of their land? How did this enable them to make huge profits?

 

 

  1. What is a corporation? What is stock?

 

 

  1. Why would a corporation sell stock?

 

 

  1. What does a stockholder get for owning stock?

 

 

  1. What advantages did bigger business have over small businesses?

 

 

  1. Tell the difference between vertical and horizontal integration? Who could be associated with each and how did they do this?

 

 

 

 

  1. What is a monopoly? What is a positive and a negative of monopolies?

 

 

  1. Why were trusts formed? What were they?

 

 

  1. What was the appeal of department stores?

 

 

  1. Why were chain stores able to have lower prices?

 

 

  1. Who did mail order stores appeal to? What was one of the earliest mail-order companies?

 

 

  1. What kind of problems did workers in the 19th century face?

 

 

  1. How did trade unions differ from industrial unions?

 

 

  1. What methods did employers use to undermine unions?

 

 

  1. Why did people have a negative perception about unions in the early days?

 

 

  1. How were the RR Strike of 1877 and the Pullman Strike similar?

 

 

  1. What were goals of the Knights of Labor? What were methods they believed in?

 

 

 

  1. What was the Haymarket Riot and what did it mean for the K of L?

 

  1. How was the AFL different from the K of L and other unions?

 

 

  1. What methods did the AFL believe in?

 

 

 

  1. What is arbitration?

 

 

  1. What is a closed shop?

 

 

  1. What is collective bargaining?