| Urbanization | Mass movement to the city |
| Socialism | Collective or government ownership of production and distribution |
| Laissez-faire | Opposed government intervention in private business |
| Free enterprise | Freedom of private business to complete and operate for a profit |
| Capitalism | Private ownership and distribution of goods and competitively in a free market |
| Collective bargaining | Negotiations between labor and management |
| Industrial Revolution | Change from manual labor to machine |
| Assembly line | The piece-by-piece assembling of a product |
| Standardized parts | Interchangeable parts |
| Consolidation | Merger of seven businesses into one |
| Monopoly | Exclusive control of a product |
| Stockholders | Investors in corporations who share in the profits |
| Federal Trade Commission | Controlled corporation practices |
| The working methods of Whitney and Fords made mass production possible | True |
| Industrialized methods were first used in England’s iron industry | False |
| Plentiful natural resources and work force are musts for industry | True |
| Wars and corporations hindered the growth of industry in the United States | False |
| New England businessmen were heavy investors in the industry | True |
| The Crusades revived European interest in trade and business | True |
| The Communist Manifesto is considered an important work on socialism | True |
| Smith wrote of the deplorable factory conditions in England | False |
| By the early 1900s the North Central and Middle Atlantic states led in production in the United States | True |
| Nations import their surplus goods in order to export needed items | False |
| Lumber and textiles were the top ranking U.S industries by the 1900s | False |
| The Crusades and monasteries were the early European influences on industry | True |
| Major goals of corporations were to eliminate competition and increase profits | True |
| Watt, Fulton, and Stephenson all experimented with the ____ | Steam engine |
| Field, Bell, and Morse developed great improvements in ____ | Communication |
| The deciding factor of the North’s victory in the Civil War was its ____ | Industry |
| Marx’s theories of socialism were outlined in the ____ | Communist Manifesto |
| Communists believe in the seizure of ____ power by force | Economic or political |
| Labor unions have a voice against employer abuse to ___ | Factory workers |
| Laussez-faire economy was based on the law of a. _____ and the law of b. _____ | a. Supply and demand. b. Competition |
| McCormick, Whitney, and Oliver contributed to the United States’ _____ | Agricultural revolution |
| Tariffs balance the economy by raising the prices of ____ | Imported goods |
| High taxes and robbers threatened trade during the ____ | Middle Ages |
| Technological improvement in transportation and _____ aided the fighting of wars | Communication |
| American industry was aided by (1) war, (2) new power sources, (3) improvements in transportation and communication, (4) new production methods, (5) monopolies. _____ | A. 1,2,3,4 |
| Factors making the United States ripe for industry’s growth included (1) abundant natural resources, (2) ample work force, (3) help from England, (4) investment capital, (5) determination to prove itself | c. 1,2,4,5 |
| Factors aiding the plight of factory workers included (1) labor improvement laws, (2) laissez-faire, (3) labor unions, (4) books by Dickens and Disraeli | b. 1,3,4 |
| Advantages corporations brought to the United States included (1) lowered unemployment, (2) reduced competition, (3) | c. 1,3,4,5 |
| Social changes resulting from Industrial Revolution included (1) urbanization, (2) greater independence, (3) growing socialism, (4) poor living and working conditions | a. 1,3,4 |
| What were the factors that gave rise to communism? | The many injustices and abuses of the working class by wealthy industrialists who shared little of the wealth they made gave rise to this preaching for the proletariat to overthrow the capitalists |
| What measures were created and used by Roosevelt and later presidents to control corporation practices? | Roosevelt enforced earlier antitrust laws and bright publicity against corporation practices, thus gaining more cooperation from them. The Clayton Antitrust Act and Federal Trade Commission also controlled illegal practices |
| How has the Industrial Revolution affected the world’s economy? | It has raised the worlds economy, increasing the standard of living to a prosperous level when compared with century before. It also boosted world trade and made nations dependent upon each other for products and quickened distribution of goods around the world |
| How did the Industrial Revolutions in Europe and England affect the growth of industry in the United States | They set the patterns of industry in labor-saving devices, the factory system, and labor laws to protect the worker– patterns which later were vital in setting the patterns of American industry |
History unit 7 self test 3
June 11, 2020