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4.2 The Rise of Big Business Flashcards | StudBud

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4.2 The Rise of Big Business

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4.2 The Rise of Big Business

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Questions 10

Answers

1
The ICC was formed to
control interstate commerce
regulate communications across state lines
make new transportation laws
oversee railroad operations
2
A cartel differs from a monopoly in that
one firm sets the prices for all goods in an industry
all the firms involved in the same business merge into one
one corporation has complete control of a product or service
businesses making the same product agree to limit production
3
Complete control of a product or service
cartel
trust
monopoly
domination
4
An oil tycoon who used vertical integration to decrease cots and increase profits
Westinghouse
Rockefeller
Carnegie
Vanderbilt
5
Horizontal integration differs from vertical integration in that it
merges stocks from multiple businesses into organization
consolidates many firms involved in same business
assign their stock to a board of trustees
combines different businesses involved in all phases
6
Steel tycoon who used vertical integration ton increase profits
Rockefellar
Vanderbilt
Carnegie
Westinghouse
7
One company control the businesses that make up all phases of a product's development
monopoly
cartel
vertical intergration
horizontal intergration
8
Which argument supports the perception of big business leaders as "captains of industry"?
Workers' wages rose as industrialists profited
Industrialists' support for technology benefited the economy
Monopolies forced small companies out of business
Consumers were harmed by inflated prices
9
How did Social Darwinists view poverty?
Assisting the poor would disrupt natural selection
Encouraged philanthropy to poor people
Wealthy businessmen should give away their money to poor
Go from rags to riches
10
Business in which ownership is shared
Monopoly
Cooperative
Corporation
Cartel