John D' Rockefeller

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• John D. Rockefeller

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• He made his money from oil. He controlled
  Standard Oil a monopoly.

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• Cornelius Vanderbilt

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• He made his money by buying up the railroads and
  controlling prices.

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• J. P. Morgan

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• He made his money as a banker and company owner.
  He was so rich the government even borrowed money
  from him!

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• Henry Ford

www.unconfirmedsources.com
people.hofstra.edu/.../conc1en/assemblyft.html
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• He didnt invent the car but found ways to make
  them affordable for everyone
• (assembly line!
• Mass production!)

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• Assembly Lines

history.grand-forks.k12.nd.us/NDhistory/Lesso...
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• Way of producing products where one worker stays
  in one places as products move along past them on
  a moving belt.
• (pretty boring way to work!)

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• Mass Production

news.bbc.co.uk/.../img/1.jpg
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• The process of making large quantities of a
  product quickly and cheaply. A result of
  industrial growth!

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• Robber Barons

history.grand-forks.k12.nd.us/NDHistory/Lesso
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Nickname for wealthy industrialists like Carnegie
and Rockefeller because they seemed to rob
others to gain wealth.
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• Monopoly

Standard Oil owns 95 of all companies that sell
oil. You really only had one place to buy it!
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• A company or group that has control over all or
  nearly all of the businesses in an industry.
• Ex.) If McDonalds owned all fast food
  restaurants.

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• Vertical Integration

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• When one main company controls all the steps in
  an industry from raw materials up to the
  finished product.

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• Sherman Antitrust Act

Monopolies and trust are illegal and unfair to
small businesses!
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• Law created in 1890 that banned the formation of
  big businesses like trusts and monopolies.
  Didnt really work!

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• Strike

www.hu.mtu.edu/vup/Strike/1913strike.gif
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• When workers refuse to do their jobs until their
  demands are met.

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• Free Enterprise System

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• Where businesses are owned by private citizens
  (not the government) and they decide what to
  produce, how much, and the price.

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• Trust

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• A group of corporations run by a single board of
  directors that control all the prices and get
  very rich!
• (not fair for the little businesses)

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• Urbanization

People
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• The movement of people to the city from rural
  areas mostly for work in factories