Even before the invention of the automobile, petroleum was in high demand because it could
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be turned into kerosene.

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Laissez-faire relies on ____ to regulate prices and wages.a free market
During the early days of industrialization, many members of Congress believed that tariffs wouldprotect new industries from foreign competition.
Economies of scale resulted inlower costs and increased production.
A shortage of workers in California forced the Central Pacific Railroad to hire about 10,000 workers fromChina.
Railroad companies raised most of the money that they needed to build their railroads fromselling government land grants.
Corporations bought new machines in order to achieveeconomies of scale.
A steel company that owns the coal mines, limestone quarries, and iron ore fields it depends on is an example ofvertical integration.
In the late 1800s, workers’ buying power generally increased becauseprices fell faster than wages.
Supporters of laissez-faire believed the government should interfere in the economy only toprotect property rights and maintain peace.
Measurements taken of Union soldiers during the Civil War led to the development ofready-made clothes.
The two railroads that built the transcontinental railroad were theUnion Pacific and Central Pacific.
To make rail service more reliable, in 1883 the American Railway Associationdivided the country into standardized time zones.
It made sense for big corporations to continue operating during poor economic times becausetheir operating costs were small, compared to their fixed costs.
When a single company achieves control of an entire market, it is known asa monopoly.
Department stores changed the idea of shopping bybringing together a huge array of different products.
A __________ was a technique for breaking a union in which the company refused to allow worklockout
The total value of all goods and services that a country produces is itsgross national product.
Issuing stock allows a corporation to raise large amounts of money for big projects whilespreading out the financial risk.
Agreements among companies to keep prices at a certain level were known aspools.
In contrast to department stores, which offered many services, chain stores focused on offerlow prices.
When a union called a strike, employers would often hire replacements, calledstrikebreakers.
Employers generally viewed unions asconspiracies that interfered with property rights.
Some labor supporters were anarchists, who believed that society did not need anygovernment.
The Knights of Labor suffered a steady decline in membership and influence due to lost strikes andthe Haymarket Riot.
The American Federation of Labor pushed for closed shops, meaning that companiescould only hire union workers.
What was the major difference between the American Federation of Labor and the Knights of Lathe American Federation of Labor only accepted white skilled men
What is the idea that people and societies compete for survival, with the fit becoming wealthy while the weak struggle to survive called?Social Darwinism
A nation’s ______________________________ is the total value of all goods and services it prgross national product
The ____________________ motive, or hope to make money, attracted people of high ability and ambition into businessprofit
Scandals created the impression that railroad entrepreneurs were __________________________,robber barons
A single company that achieves control of an entire market is a ____________________.

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monopoly
People who supported ____________________ believed that society did not need any government.anarchism
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