Industrialism and Its Impact

Flashcards covering key concepts from Lessons 13 and 14 on industrialism and its implications in American society.

What is a negative aspect of industrialism as depicted in the image?

Economic inequality and exploitation of workers.

What does integration in industrialism refer to?

Joining together many firms from the same industry.

In an economic system of capitalism, factories, equipment, and other means of production are owned by whom?

They are owned by private individuals or corporations.

What major factors led to the rise of big business and monopolies in the 1900s?

Technological advancements, deregulation, and capital accumulation.

What is a characteristics of laissez-faire economic policy?

Minimal government intervention in the economy.

Who owns a business organized as a corporation?

Shareholders.

What was the impact of industrial expansion in the late 1800s on American society?

It led to urbanization, economic growth, and the rise of a working class.

What type of society did the U.S. evolve from in the post-Civil War era?

Agrarian society into an industrial society.

Which was NOT a significant innovation in America during the 1800s?

Television.

What revolutionary process transformed how iron was turned into steel?

The Bessemer process.

Why is Andrew Carnegie considered a philanthropist?

He donated a large portion of his wealth to various charitable causes.

Which term describes a company that completely dominates a particular industry?

Monopoly.

What technology did Henry Ford use to mass-produce automobiles?

Assembly line.