WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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secure government loans
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negotiate more effectively with labor unions
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influence lawmakers to lower taxe
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limit competition
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Detailed explanation-1: -Larger companies began to form. These firms strove to dominate the economic arena. They formed trusts, monopolies, and pools to limit competition from other companies. Business owners formed trusts, where one person or a group of people controlled several companies, to reduce production costs and to set prices.
Detailed explanation-2: -Which tactics were used by big business during the late 1800s to limit the power of labor unions? Picketing, Walkouts, Collective Bargaining, Mediation were all attempts by the WORKERS to get Wage increases and Shorter hours.
Detailed explanation-3: -During the late 1800s, what was a major effect of industrialization on America’s workers? Membership in unions declined. Workers migrated to rural regions. Most factory jobs became service industry jobs.
Detailed explanation-4: -In both vertical and horizontal integration, entrepreneurs buy out their competition. Once competition is eliminated, the entrepreneur can raise prices and increase profit.