Big Business Vocabulary Urbanization----growth of

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Big Business Vocabulary Urbanization----growth of




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Presentations text content in Big Business Vocabulary Urbanization----growth of

Slide1

Big Business Vocabulary

Slide2

Urbanization----growth of

citiesIndustrialization---movement from making things by hand to doing things by machines National Market---stores that are throughout the countryCorporation---business that is owned by many investors. People cooperate to help the business be successfulCapitalism---private ownership/private property. No limits on how much money you can make.

Slide3

TRUST VS. MONOPOLY

Slide4

TRUST:

multiple businesses controlling price and reducing competition.Each business TRUSTS the other to control the price and competition.MONOPOLY: one business that controls all production and sales.MONO: ONEPOLY: MANYONE controlling MANY

Slide5

What broke up Trusts?

Slide6

The Sherman Anti-Trust Act

Passed in 1890to “protect trade and commerce against unlawful restraint and monopoly.

Slide7

What is a Captain of Industry?

Who are the Captains that we have studied?

Slide8

A person who leads/steers an industry.

Andrew Carnegie---STEELCornelius Vanderbilt---RAILROAD/SHIPPINGHenry Ford---AUTOMOBILE John D. Rockefeller----OILJ.P. Morgan----BANKING

Slide9

What are the inventions that we studied?

Who invented them, or made them popular?

Slide10

Electric Light bulb----Thomas Edison

Telegraph---Samuel Morse

Model T---Henry Ford

Telephone---Alexander Graham Bell

Assembly Line----Henry Ford

Power Plant- Thomas Edison

Long-distance Transformer---George Westinghouse

Slide11

How did the previous inventions contribute to industrial growth?

Slide12

Electric Light bulb----longer working hours

Telegraph---almost instant communication over long distances

Model T---Cheap cars that the average person can afford

Telephone---communicate by

voice

almost instantly over long distances

Assembly Line---products are made faster and cheaper

Power Plant- Electric power can be distributed to many light bulbs at once

Long-distance Transformer---Electric power is sent longer distances cheaper.

Slide13

What ingredients do all businesses need?

Slide14

All Businesses

Availability of large work(labor)force (A lot of people)Raw materials (Natural Resources) and energyInventions (Capital Resources)Financial Resources (Money)

Slide15

What causes some businesses to rise and prosper?

Slide16

Captain of Industry

Lower Cost ProductionTransportationAdvertising


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