Inventors and Big Business Review

Directions: Under each complete the phrase, answer the question, fill in the blank, or define the definition.

Describe inventions of Edison and their effect on US:
He created the phonograph and the first motion picture camera. He also created the light bulb and a plan for central power.

Describe inventions of other such as Bell, Bessemer, and Marconi: Bell-telephone, Bessemer-developed steel, and Marconi- invented the wireless telegraph.

Describe how big business tried to maximize profit:
They decreased workers pay, paid little for raw materials, advertising widely, and funded research labs for new products.

Describe how Rockefeller and Carnegie changed big business in the US:
Rockefeller used horizontal integration to maximize profits which meant he wanted to consolidate all firms making one huge company. Carnegie used vertical integration which was lowering production cost by gaining control of all businesses that went into finished product development.

Describe how the gov regulated big business:
The creation on interstate commerce commission investigated unfairness in railroad industry. Congress also passed Sherman Antitrust act which prohibited any trust that acts in restraint of commerce.