WHY DID BIG BUSINESS GROW?
REASONS, KEY TERMS, CITIES & PEOPLE
REASONS WHY BIG BUSINESS GREW…….
• AVAILABILITY OF WORK FORCE
• PEOPLE COMING FROM THE SOUTH
• IMMIGRANTS
• NATIONAL MARKETS CREATED BY TRANSPORTATION
• GOODS GETTING TO OTHER PLACES QUICKLY
• ALLOWS PEOPLE TO HAVE MORE GOODS/SUPPLIES
• THIS CREATES THE IDEA THAT THEY “NEED” THEM
REASONS WHY BIG BUSINESS GREW……
• LOWER COST PRODUCTION
• INTERCHANGEABLE PARTS
• FACTORIES
• TRANSPORTATION
REASONS WHY BIG BUSINESS GREW……
• INVENTIONS
• ELECTRICITY
• STEAM ENGINES
• COTTON GIN
• AGRICULTURAL MACHINES
• COMMUNICATION: “TALKING WIRES”/MORSE CODE
REASONS WHY BIG BUSINESS GREW……
• ADVERTISING
• PROMOTING BUSINESSES AND GOODS
• FINANCIAL RESOURCES
• MORE PEOPLE WITH MONEY WILLING TO INVEST
• MORE BANKS WILLING TO LEND
• ACCESS TO RAW MATERIALS AND ENERGY
• COAL, GAS, STEEL AND OTHER NATURAL AND MANMADE RESOURCES
KEY TERMS
• MONOPOLY
• EXCLUSIVE CONTROL OF A COMMODITY OR SERVICE IN A PARTICULAR MARKET, OR A CONTROL
THAT MAKES POSSIBLE THE MANIPULATION OF PRICES
• SHAREHOLDER
• A HOLDER OR OWNER OF SHARES IN A COMPANY OR CORPORATION
• DIVIDEND
• A SUM OF MONEY PAID TO SHAREHOLDERS OF A CORPORATION OUT OF EARNINGS
• CAPTAIN OF INDUSTRY
• THE HEAD OF A LARGE BUSINESS FIRM
INDUSTRIAL CITIES
• PITTSBURGH, PA
• STEEL
• DETROIT, MI
• AUTOMOBILES
• CHICAGO, IL
• MEAT PACKING
• NEW ENGLAND
• TEXTILES
IMPORTANT PEOPLE
• JOHN D. ROCKEFELLER
• STANDARD OIL
• ANDREW CARNEGIE
• STEEL
• HENRY FORD
• AUTOMOBILE
• CORNELIUS VANDERBILT
• RAILROAD