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Building with Steel pg.177 Steel can hold (1) MORE weight and (2) BEND without cracking. In 1856, inventor (3) HENRY BESSEMER developed the Bessemer process. Which made steel more affordable. This process made is possible to produce steel in large quantities.
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Building with Steel pg.177 Steel can hold (1)MORE weight and (2)BEND without cracking. In 1856, inventor (3)HENRY BESSEMER developed the Bessemer process. Which made steel more affordable. This process made is possible to produce steel in large quantities. In the 1870’s, Andrew (4)CARNEGIE began using the Bessemer process to make steel in Pittsburgh, (5)PENNSYLVANIA. Carnegie’s goal was to produce steel at the (6)LOWEST possible (7)COST. Carnegie helped Steel become (8)“BIG BUSINESS” in the US. By (9)1900 the US was producing more steel thank any other country in the world.
Railroads Link Markets pg. 178 • By 1893 there were more than (1)160,000miles of railroad track in America. • A corporation is: (2)A BUSINESS THAT IS OWNED BY INVESTORS • Shares of the company are called (3)STOCKS. • Railroads were the (4)FASTEST and (5)CHEAPESTway to transport goods. • Railroads linked cities, (6)FARMS, factories, and (7) MINES all over the country. • Railroads help the U.S. (8)ECONOMY grow.
The Oil Industry pg. 179 • Oil was also called “(1)BLACK (2)GOLD” • On August 27,1859, Edwin (3)DRAKE, found oil in western (4)PENNSLYVANIA. • John D. (5)ROCKEFELLERfound that he could make money by refining oil or turning it into useful products such as (6)KEROSENE. • His first refinery was built in (7)CLEVELAND, (8)OHIO, in the year (9)1863. • By the early 1800’s, standard oil controlled about (10)90%. • A Monopoly is: (11)A COMPANY IN CONTROL OF AN ENTIRE INDUSTRY. • In the early 1900’s Americans were buying (12)CARS which increased the need for other products made from oil. • Major oil discoveries were made in… (13)TEXAS, (14)OKLAHOMA, and (15)CALIFORNIA.
Free Enterprise pg.180 • In a Free Enterprise system, people are (1)FREE to start their (2)OWNbusinesses and own their (3)OWNland. • Business owners can also deicide how much to (4)PRODUCE and how much to (5)CHARGE for their product. • A Consumer is (6)A PERSON WHO BUYS OR USES GOODS AND SERVICES • Competition between companies is an important part of (7)FREE (8)ENTERPRISE. • The “War of the Currents” was (9)A COMPETITION BETWEEN WESTINGHOUSE AND EDISON’S COMPANIES • (10)MADAME C.J. WALKER was the first African American woman to become a millionaire.
BIG Business pg.181 • Inventors lead to new (1) INDUSTRIES, railroads linked (2) MARKETS, and entrepreneurs and their new ideas helped (3) BUSINESS (4) GROW. • 3 types of resources are; (5) NATURAL, (6) HUMAN, and (7) CAPITAL. • Natural Resources are: things found in (8) NATURE that people can (9) USE. • Human resources are: people who work to (10) PRODUCE (11) GOODS and services. • Capital resources are: the tools and (12) MACHINES that companies use to (13)PRODUCE goods and (14) SERVICES.
Help Wanted pg. 182 • By 1900 more Americans worked in (1)INDUSTRIES than on farms. • The US became the worlds largest producer of (2)MANUFACTURED GOODS. • By early 1900’s the US produced about (3) 35% of all (4) MANUFACTURED goods in the world. • Growing industry created many (5) NEW JOBS. • Many people moved from (6) RURAL areas to (7)CITIES. • Jobs also attracted (8) IMMIGRANTS from other countries. • They wanted to find new(9)OPPORTUNITIES in the US.