The Impact of Big. Business.

Teacher: Patricia de Hernández

Subject: Social Studies
Grade: 6th
Due date: April 20th
NEW VOCABULARY:

• Urbanization: the growth or spreading city.

• Free enterprise: describes an economy in which people are free to

start their own business or to do whatever work they want.

• Entrepreneur: someone who creates a new business and who takes on

all the risks and rewards of starting and running it.

• Corporation: a large business owned by investors.

• Stock: a financial share of ownerships of a company.

• Assembly Line: a factory system in which a product is put together as it

moves past a line of workers.

• Refinery: A type of factorythat turns oil into different products, such as

gasoline.

• Monopoly: a company that has control of an entire business.

Free Enterprise, Urbanization, and Andrew Carnegie.

The economy of the United States is a free enterprise system. In the late
1800s, many entrepreneurs started new businesses.
• Between 1880 and 1900, the number of factories and jobs more than
doubled. 
• Workers moved to cities to fill these factory jobs. This led to urbanization,
or the growth of cities. 
• Andrew Carnegie was an entrepreneur. He used the Bessemer to
produce good steel at a lower cost. 

• The United States made more steel than any other country by
1910. 
 Inventions, Resources, and Industry.

New inventions and the country’s natural resources helped the economy.

• Henry Ford started the Ford Motor Company. Investors owned stock in the
corporation. 

• Henry Ford created a faster and cheaper way to build cars by using an
assembly line. 
• Rich farmland and forests provided crops and lumber for a growing
population. 

• Iron ore from Pennsylvania and the Great Lakes region supplied the steel
industry. 

• Oil was discovered in the United States in 1859. 

 Cities and Businesses

• Cities linked to important industries grew quickly. 

• Within cities, other workers provided goods and services for a growing
population. 

• Different regions relied on one another more and more. 

• Growing industries and populations created new problems.

Study the bar graph in order to make a conclusion about changes in the U.S.
population between 1860 and 1920.