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Module 20 Lesson 1 & 2: Industrialization Flashcards | StudBud
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Module 20 Lesson 1 & 2: Industrialization
Module 20 Lesson 1 & 2: Industrialization
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1
One advantage that corporations of the late 1800s had over individually-owned businesses is that corporations
One advantage that corporations of the late 1800s had over individually-own
had stockholders who invested money
needed fewer employees
hired only skilled workers
2
The Industrial Revolution in the United States occur between which events
World War I and World War II
the Mexican War and the Civil War
the Revolutionary War and the War of 1812
the CIvil War and the turn of the 20th century
3
New inventions were one of the causes of
the rise of industry
growth of labor unions
lack of resources
the government regulating the monopolies
4
Andrew Carnegie is to the U.S. Steel Corporation as John D. Rockefeller is to the
Disney World Corporation
Standard Oil Company
NY Central Railroad
General Motors Corporation
5
What is the definition of laissez faire?
letting business take its own course, without government interference
Urban businesses are sole providers of electricty
lazy workers who get arrested
government control over all businesses
6
The study of economics focuses on
the Earth and its relationship to our environment
different types of governments and how they operate
production, distribution and consumption of goods and services
past cultures of different peoples
7
One result of U.S. laissez faire policies during the 1800s was that
government control over businesses increased
big businesses expanded quickly
farm production decreased
labor unions became illegal
8
What did the Wright brothers do in the year 1903 in Kitty Hawk, North Carolina?
Developed the Bessemer Process
First plane flight lasting 12 seconds
Sold their reailroad business
Invent the cotton gin
9
According to laissez faire economics, prices in the market place should be determined by
supply of products and demand
government laws
Business leaders and government
Congress and the President
10
Steel was important to industrial growth after the Civil War because
steel manufacturers could make a lot of money producing it
there were no other materials like it that could be used for building and i
it could be made stronger and cheaper than iron
iron was no longer available
11
What is the main economic system of the United States?
Mercantilism
Capitalism
Dictatorship
Nationalism
12
Characteristics of capitalism include
free enterprise
government ownership of businesses
profit motive
social classes
13
What city became known as the steel making capital of the US?
New York
Phoenix
Pittsburgh
Dover
14
Which of the following characteristics best describes a “laissez-faire” economy?
government planning for production of consumer goods
equal distribution of goods and services to all citizens
little or no governmental involvement in business and financial matters
public ownership of the basic means of production
15
Monopolies hurt free enterprise by
eventually lowering prices of certain products
taking over other companies and stopping competition
encouraging competition within the same industry
eliminating the practice of giving company rebates
16
Who is credited with inventing the assembly line for automobile manufacturing?
Henry Ford
Adam Smith
John D. Rockefella
Andrew Carnegie
17
A major advantage of the corporation as a business organization is its
high cost of getting organized
amnesty from criminal prosecution
ability to raise large amounts of capital from investors
ability to create supply and demand of products
18
The Bessemer process led to...
cheaper production of steel
invention of the computer
cleaner refinment of oil
Refrigerated trucks
19
Free enterprise is private ownership of land, money, resources, and labor. This system is also called
capitalism
communism
collectivism
nationalism
20
Which situation brought about the rapid (quick) growth of industry between 1865 and 1900?
decline in the number of people attending schools
high worker morale resulting from good wages and working conditions
availability of cheap labor from immigrants to the United States
establishment of western reservations for Native Americans
21
Who is called the Father of Modern Economics or Father of Capitalism?
John D. Rockefeller
Adam Smith
Mark Cuban
Andrew Carnegie
22
Andrew Carnegie was known for his business in the...
steel industry
railroad industry
automobile (car) industry
oil industry
23
Most people purchase shares of stock in a corporation in order to
share in the corporation's profits
influence decision making of chief executive officers
determine the products the corporation manufactures
improve working conditions for the corporation's employees
24
John D. Rockefella was known for his business in the...
oil industry
railroad industry
steel industry
automobile (car) industry
25
Henry Ford was known for his business in the...
steel industry
railroad industry
oil industry
automobile (car) industry
26
Which invention was NOT created by Thomas Edison?
light bulb
elecric power plant
Telephone
phonograph
27
New inventions were one of the causes of...
the rise of industry/business
government regulating monopolies
growth of labor unions
lack of resources
28
During the late 1800s, major improvements to a nationwide system of trade were made with the
use of steamboats on rivers
construction of toll roads and EZPASS
completion of thousands of miles of railroad tracks
construction of a network of canals
