1. SOL USII.4d: Industrialization Lisa Pennington Social Studies Instructional SpecialistPortsmouth Public Schools
2. Between the Civil War and World War I, the United States was transformed from an agricultural to an industrial nation. Essential Understandings
3. Mass production: method of making large quantities of goods quickly and cheaply. Division of labor: each person does one specific part of the whole process. Stockholder: person who buys shares in a company. Limited liability: individual investors risk only the money they have paid for their stocks. Partnership: all the partners of a firm are responsible for debt. Vocabulary
4. Monopoly: total control of a trade, service, or a product. Trust: legal agreement where several companies come together to regulate production and eliminate competition. Cyrus McCormick: invented the reaper/grain cutting machine in 1831. Mechanization: replace people or animals with machinery. Vocabulary
5. Department store: combination of many goods under one roof. Chain store: store with branches in many cities. Mail order business: created by Montgomery Ward and Sears-Roebuck; provided a catalog of goods that people ordered by mail. Vocabulary
6. National markets created by transportation advances. Captains of industry (John D. Rockefeller, oil; Andrew Carnegie, steel, Cornelius Vanderbilt, shipping and railroads.) Advertising. Lower-cost production. Reasons for rise and prosperity of big business
7. Access to raw materials and energy. Availability of work force due to immigration. Inventions. Financial resources. Factors resulting in growth of industry
9. Examples of big business http://www.scripophily.com/webcart/vigs/ussteelvigb.jpg http://www.ohiohistorycentral.org/images/1245.jpg http://www.historycentral.com/rec/StandardOilCo.jpg
10. Mechanization (e.g., the reaper) had reduced farm labor needs and increased production. Industrial development in cities created increased labor needs. Industrialization provided access to consumer goods (e.g., mail order). Postwar changes in farm and city life http://www.lib.niu.edu/ipo/1992/ihy9212051a.jpg http://exhibits.mannlib.cornell.edu/prefabhousing/images/large/Sears2.jpg
11. What created the rise in big business? What factors caused the growth of industry? How did industrialization and the rise in big business influence life on American farms? Think About It…
