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Industrialization Flashcards | StudBud
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Industrialization
Industrialization
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A Quiz review game for the Industrialization Unit
Flashcards
26 cards
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Questions
26
Answers
1
According to the law of Supply and Demand, when there is a high supply of a product the price..
The product becomes free
The price increases
The price stays the same
The price decreases
2
Which industrialist was known for using "Predatory Pricing" to eliminate his competition?
Carnegie
Morgan
Ford
Rockefeller
3
Which of these would NOT be an characteristic of someone who is a "Robber Barron"?
Creating a monopoly
Using violence against their workers
Giving their workers low pay
Being an Innovator
4
How does the use of the Assembly Line & mass production help the consumer?
It lowers wages
It helps lower the price of goods
It eliminates competition
It turns the US Communist
5
Which of these did NOT help industry boom?
Railroads
Oil
Steel
Military
6
The Bessemer Process was a new way of producing which product quickly?
Steel
Automobiles
Iron
Captain Crunch
7
Which theory states that stronger companies survive by beating their weaker competition?
Pythagorean
Gospel of Wealth
Social Darwinism
Pinkerton
8
Which of these terms refers to the government being "hands off" business?
Competition
Communism
Marxism
Laissez-Faire
9
Someone who takes a risk to start a new business is called a:
Darwinist
Mass Producer
Monopolist
Entrepreneur
10
What area were most factory jobs located in?
Florida
Farms
Cities
Off Shore
11
The circulation of money or payment through buying and selling is known as the:
Urbanization
Social Darwinism
Cost of Goods Sold
Economy
12
What did Rockefeller, Carnegie, and Morgan use to eliminate their competition in order to maximize profits?
Capital
Monopoly
Titan
Competition
13
Which of these industrialists was able to gain influence in the government by lending it gold?
Morgan
Rockefeller
Carnegie
Vanderbuilt
14
Who did Andrew Carnegie sell Carnegie Steel to for over $400 million dollars?
Vanderbuilt
Morgan
Rockefeller
Ford
15
If you have more of a product than you need it is referred to as a:
Shortage
Minimal
Stagnant
Surplus
16
Which of these industries did John D. Rockefeller control?
Banking
Steel
Oil
Electricity
17
Which one of the following is NOT a way that new inventions help the economy grow?
New products led to more spending
New products lead to monopolies
New products are from innovation
New products lead to job creation
18
Who determines the price of a product in a Capitalist system?
Government
The workers
Business owner
The people
19
What does Henry Ford use to mass produce cars?
Brutal Force
Competitors
Assembly Line
Skilled Workers
20
If you have a SHORTAGE of a product the price will:
Cost nothing
Decrease
Stay the same
Increase
21
Who was the person who invented the telephone?
George Corliss
Alexander Graham Bell
Thomas Edison
Tony Stark
22
The production of large quantities of goods is referred to as:
Greed
Mass Production
Stagnation
Shortage
23
What Halloween candy would Mr. Brenner HATE to get?
Candy Corn
Nerds
Snickers
Laffy Taffy
24
Which of these is NOT one of the 3 Principles of Capitalism?
Social Darwinism
Freedom of Choice
Limited Government Intervention
Competition
25
Which of these industries did J.P Morgan NOT control at one point?
Oil
Banking
Steel
Electricity
26
Which of these would make people consider an entrepreneur a "Captain of Industry"?
Giving to Philanthropy
Having long hours for their workers
Unfairly eliminating their competition
Encouraging Strikes
