| A | B |
|---|
| What is a network? | a system of connecting rail lines |
| What does it mean when companies consolidate? | companies combine in order to compete with larger companies |
| What industry did Cornelius Vanderbilt control? | railroads |
| How were rebates used to force companies out of business? | Shipping rates were deeply discounted for preferred customers. Other companies couldn't afford the high shipping costs and went out of business. |
| How did pooling work? | In order to end competition and keep prices high, railroad companies agreed to divide up business in an area and set high prices. |
| What is a trust? | an industry controlled by a single board of directors |
| What was the importance of the Sherman Anti-trust Act? | it made trusts and monopolies illegal |
| What was the name of the trust started by John D. Rockefeller? | Standard Oil Trust |
| In what industry did John D. Rockefeller make his millions? | oil |
| What is a monopoly? | to have complete control over an industry |
| What was the first industry dominated by J. Pierpont Morgan? | banking |
| What is the name of the process used to create steel quickly and cheaply? | Bessemer Process |
| What is vertical integration? | when the entire production process is controlled by one compnay |
| What industry was dominated by Andrew Carnegie? | steel |
| What is a philanthropist? | someone that gives large amounts of money to charity |
| Which major industrialist became the countries first billionaire? | J. Pierpoint Morgan |
| How come railroad tracks from the north and the south could not be connected to each other? | The tracks had different gauges, or widths. |
| What were two positive affects of the railroad industry on the nation? | thousands of jobs were created and the country was opened up for settlement and growth |
| Who made the following quote. "I started life as a poor man and I wish to end it that way." | Andrew Carnegie |
