Quiz:

1. 466-71 - Analyze statistical tables and charts about the United States during the nineteenth century. - Describe how industry grew in the late 1800s.

2. Quiz:

3. Data Set Conclusions: • Directions: Study each data set, identify the trend and write • a conclusion based on the statistics. • Practice: • Falling cotton prices will likely cause more small • farmers to go into debt. • Faster growth rate of non-farm workers shows the • trend of urbanization in the United States. • Growth of consumer products demonstrates the growth of • a middle-class in the U.S. • Railroad construction furthered westward expansion. • Heavy industry grew at an exponential rate in the 1870s. • As wages decrease, labor organization and strikes will • likely occur. • Technology is growing at a fast rate. • Westward expansion was almost complete by 1915.

4. New Industry in the Nineteenth Century • Mary Antin – “The Promised Land” demonstrated the changes in industry and urbanization in the United States. • Mark Twain – “The Gilded Age” satirized the materialistic excesses of American society.

5. New Industry in the Nineteenth Century Changes: 1. Transformed from an agricultural to an industrial nation. Share of Worldwide Manufacturing

6. New Industry in the Nineteenth Century Changes: 2. New Technology of Electricity -Thomas Edison – researched the electric light at his Menlo Park, NJ laboratory. -1882 Edison sold his General Electric Co. to Elihu Thomson who creates first research and development center. - By 1914 GE was producing 85% of the world’s electric light bulbs.

7. New Industry in the Nineteenth Century Changes: 3. The Corporation -shares of stock are sold to raise capital. -corporation outlives the individual = planning -limits personal liability.

8. New Industry in the Nineteenth Century Changes: 4. New business strategies develop: -Vertical Integration – corporation owns all levels of production from raw material to finished product. -Gustavus Swift (1875) – Swift Meatpacking Corporation. -Andrew Carnegie (1900) – Carnegie Steel Corporation Product Raw Material

9. New Industry in the Nineteenth Century -Horizontal Integration – the merger of all competitors in the same industry. -John D. Rockefeller’s Standard Oil Co. -J.P. Morgan -James Duke -Andrew Carnegie also applied this technique later. -Trust – When corporations join together or organize themselves to eliminate competition in the market. (not in your book.) Corporations A B C D John D. Rockefeller J.P. Morgan James Duke

10. New Types of Business Strategies

11. Dangers • Limits competition which could allow a monopoly to develop resulting in higher prices. • Restricts opportunities for small businesses to compete. • Can employ harsh business practices which oftentimes can hurt consumers.

12. Suggestions: 1. Read and then re-read the chapter several times. 2. Take careful and thorough notes as you read. 3. Complete the graphic organizer/reading guide for each chapter. 4. Use the syllabus terms and objectives to review material. 5. Make note cards over the terms to study. 6. Take the online practice tests on my website under the Goldfield icon. 7 Take careful notes during class in addition to the reading notes/guide. 8. Consider a study group.