2. 2. What interest inspired Alexander
Graham Bell to invent the telephone?
He was fascinated by the deaf and wanted to
learn more about hearing. In Boston,
Massachusetts, he taught deaf students to
speak and at night worked on his telephone.
3. 3. What was the impact of Alexander
Graham Bell invention of the telephone?
It changed the way people communicated with each
other.
4. 4. Thomas was an inventor living in the
1800s. What was his most important
invention?
The electric light bulb.
5. 5. What were some of the 1,093 inventions
created by Thomas Edison?
• He invented the incandescent light bulb
• The phonograph (record player)
• The kinetoscope (movie projector)
6. 6. How did the electric light bulb
contribute to the growth of cities?
The electric light bulb lit homes, streets, and
businesses. Businesses had money to invest in
electricity which could help them make money.
7. 7. How did Lewis Latimer help to
improve the light bulb?
• He developed a method of making carbon
filaments that lasted much longer. This made
electric light practical for everyday use.
8. 8. Who was George Washington
Carver and why was he important?
• He was an African American who taught
former slaves farming methods. Farming too
much cotton had hurt southern soil. Carver
taught people to farm other crops like
peanuts and sweet potatoes. He also
invented many products that used peanuts,
such as cosmetics, dye, paint, plastic and fuel.
9. 9. Who were the 2 Americans to first make
an airplane that could fly? What was the
name of the world’s first successful plane?
• Orville and Wilbur Wright were the first to
make an airplane that could fly. The name of
the plane was Flyer. They were the first to
create mechanical controls for aircraft wings,
which made flight possible.
10. 10. What did Wilbur and Orville
Wright do for a living?
• They were brothers who built and repaired
bicycles for a living.
11. 11. The Wright brothers flew the first airplane
in 1903 at Kitty Hawk. In which state is Kitty
Hawk?
• Kitty Hawk is a sandy barrier in the Outer
Banks region of North Carolina. The wind of
the coastal region helped the plane get off the
ground.
12. 12. What are investors and why are
they important to the American
economic system?
Investors are people who give money to a
business or project, hoping to gain a profit.
Entrepreneurs and other companies need
money from investors to start and grow their
businesses.
13. 13. During this time, why did people who
had worked on farms move to cities.
America no longer had an agrarian society
producing agricultural products. People who
had worked on farms moved to cities to look
for jobs in factories.
14. 14. What was the significance of the
inventions of the late 1800s and early
1900s?
They created new industries and business
opportunities and this caused cities to grow.
15. 15. What is an entrepreneur?
Someone who takes a risk to start a business.
They do not know if they will make money or
lose money when they start a business, but
they take the risk anyway.
16. 16. Why do entrepreneurs take risks?
• Because in a market economy, people with
jobs and money benefit the most. Some
might enjoy taking risks. Others might want
to work for themselves.
17. 17. What kind of businesses do most
entrepreneurs have?
• Small
18. 18. Why are entrepreneurs important to
market economies?
Because they bring new products and new ideas
to market by taking risks.
19. 19. What industry did Andrew
Carnegie control and how did he
accomplish this?
The steel industry. He accomplished this by
controlling all the steps of the steel making
process. Because he did not rely on
middlemen for part of the process, he didn’t
have to pay high shipping costs to others for
raw materials and shipping finished products .
20. 20. What is integration?
Controlling all of the steps in the manufacturing
process.
21. He took the risky step of investing a lot of
money to gain control of each step in the
manufacturing process. He was able to
produce a lot of steel. Steel was used to build
bridges, automobiles, trains, and railroads.
21. How did Carnegie become one
of the richest men in the world?
22. 22. Where did Andrew Carnegie found
his steel mills?
Pittsburgh, Pennsylvania. Pittsburgh
was a city built where three rivers
come together. It is a city built at the
crossing of the Allegheny River,
Monongahela River, and Ohio River.
23. 23. What is the MOST likely reason
Pittsburgh became a center for steel
production?
Ships were needed to move steel. Pittsburgh
was built where three rivers come together.
The rivers were used by the ships to transport
steel.
24. 24. Besides being a highly successful
business leader, what else is Andrew
Carnegie remembered for?
• Being a generous supporter of charitable
causes. The charity organizations Carnegie
established during his lifetime continue to
give away money every year to help people.
Carnegie donated millions of dollars to
universities, student financial aid, libraries,
scientific research, and the promotion of
world peace.
25. 25. Who was J.P. Morgan?
The country’s richest and most powerful banker. His
banks invested hundreds of millions of dollar in
railroads, steel mills, and other companies. He did
not want to have to buy steel for his railroads, so he
bought Carnegie’ steel business.
26. It made both of their companies a lot of
money. These two companies essentially
controlled their industries.
26. J.P. Morgan built many railroads before the turn of the
20th
century. He bought all of his steel from Andrew
Carnegie’s company. Why was this important?
27. 27. What is a corporation?
A business owned by investors. They sell shares
of stocks in the company to investors and use the
money to buy equipment.
29. 29. Why would people decide to buy a
corporation’s stock?
They believe that the corporation will become more
successful, and that they will earn a share of its
future profits.
30. 30. Where did Rockefeller build
the first oil refinery?
Cleveland, Ohio
31. 31. What was the name of Rockerfeller’s company?
Standard Oil
32. 32. What is a monopoly?
A company that has control of an entire industry.
They have little or no competition, so they can
charge any price they want for their products.
33. 33. What type of economy is the
United States based on.
Free Enterprises
34. 34. What is a free enterprise
system?
People are free to start their own businesses
and own their own property. Business owners
are free to decide what to produce and how
much to charge for their products and
services. Consumers are free to decide how
to spend their money. Companies must
compete with each other to sell their product.
35. 35. What is a consumer?
A person who buys or uses goods and services.
36. 36. What are economists?
People who study the economy.
37. 37. What are resources?
Something that can be used.
38. 38. List and explain the 3 main
resources.
• Natural resources-things found in nature that
people can use. Ex: coal
• Human resources-people who work to
produce goods and services.
• Capital resources-tools and machines that
companies use to produce goods and services.
The money used to buy this equipment is also
a capital resource.
39. 39. What key role do banks play in
American business?
They help businesses and individuals obtain the
capital resources they need.
40. 40. How did growing businesses
lead to the growth of cities?
Growing businesses created thousands of jobs,
and as people came to fill those jobs, the
population in cities grew.
41. 41. What was the Gilded Age?
Late 19th
to 20th
century era of large-scale
business growth and great wealth
concentrated in the U.S.
42. 42. Before 1870, where did most
immigrants come from?
• Most came to the United States from
northern and western European countries like
Great Britain, Ireland, Germany, and Norway.
43. 43. After 1870, where did most
immigrants come from?
Almost all of the immigrants who came after
1870 were from southern and eastern European
countries like Italy, Poland, and Russia.
44. 44. What were the four reasons
immigrants came to the U.S.?
1. Better jobs. (bad economic conditions,
poverty, hunger)
2. Escape cruelty of their homelands (prejudice,
discrimination, and war.
3. Religious freedom.
4. Thrill of adventure
45. 45. Why did immigrants tend to
settle in neighborhoods where
people from their cultures had also
settled?
• Immigrants could preserve their personal and
cultural identities by settling near people who
were from their own country. It also made it
easier for them to adjust to life in a new
country.
46. 46. What are immigrants?
People who leave one country to settle
permanently in another.
47. 47. Where did most immigrants
settle?
In the big cities like New York City.
48. 48. What opportunities did
immigrants hope to find in the
United States?
• Immigrants hoped to find economic
opportunity, freedom, and adventure.
49. 49. Where did many immigrants
live?
Many families lived in one-room tenement
apartments. Tenements are small, cramped
apartment buildings. Some tenements had no
electricity or head, or running water. Wooden
tenements often burned down from candle
fires.
50. 50. What were some of the
challenges faced by immigrants?
Few had much money. Their homes were not in
good condition. They didn’t speak English. They
faced prejudice, which is the unfair negative
opinion about a group of people. Many had to
work long hours making low wages in poor
working conditions.
51. 51. What city was the fastest-
growing city in the U.S. at the turn
of the century?
Chicago. Chicago’s population increased almost
6 times over between 1870 and 1900. It was
one of the few stopover points from the East to
the West. As the railroads grew, Chicago grew.
Raw materials like cattle, wheat, and corn-from
the Midwest were traded for finished goods
from the East. Westward expansion is the most
likely reason for its growth.
52. 52. What two groups commonly
moved to cities at the turn of the
century?
Farmers and immigrants.
53. 53. At this point in history, what
was replacing workers on farms?
Machines.