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Topic 9.1-9.3 Review Flashcards | StudBud
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Topic 9.1-9.3 Review
Topic 9.1-9.3 Review
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Answers
1
A person who invests money in a product or enterprise to make a profit
Apprentice
Captain of Industry
Entrepreneur
Robber Baron
2
Steel tycoon who established libraries in part to help the disadvantaged rise in society
Carnegie
Rockefeller
Gompers
Vanderbilt
3
In the late 1800s, workers tolerated poor wages because they...
thought the government would protect them
believed it had to get worse before it got better
could be replaced by "scabs"
were tricked by employers
4
A system in which businesses operate under minimal government regulation
Bessemer Process
Protective Tariff
Laissez faire
Time zone
5
Workers negotiating as a group for better wages or working conditions is known as
Socialism
Collective Bargaining
Boycotting
Strike
6
A method for purifying iron, resulting in strong, lightweight steel
Patent
Protective tariff
Bessemer process
Mass production
7
The oil tycoon who used horizontal integration to increase profits
Carnegie
Rockefeller
Darwin
Vanderbilt
8
Labor union that included all workers of any trade
Knights of Labor
American Railway Union
American Federation of Labor
Socialism
9
A small, hot, dirty, work house is best known as a...
typical factory
industrial house
sweatshop
tenement
10
As farms became mechanized...
farmers moved to cities
farm workers became entrepreneurs
immigrants bought more land
more people became farmers
11
A corporation that gains complete control of a product or a service is a ________
Oligopoly
Cartel
Trust
Monopoly
12
Which industry most spurred economic growth and innovation in related industries?
Railroads
Steel
Food
Oil
13
In a _____________ a number of people share the ownership of a business
Corporation
Trust
Oligopoly
Monopoly
14
In which system does 1 company control businesses & all phases of a product's development?
horizontal integration
Bessemer Process
cartel
vertical integration
15
Which innovation extended the number of hours in a day that Americans could work and play?
Telegraph
Bessemer Process
Refrigeration
Electricity
16
The ICC was formed to ...
Oversee railroad operation
Control national business
Regulate Communications
Make new transportation laws
17
Inventor of the lightbulb
Eugene Debs
Benjamin Frankin
Thomas Edison
Thomas Jefferson
18
Which argument supports the idea of big business leaders as "Captains of Industry"?
Monopolies force small companies out of business
Industrialists support technology that benefit the economy
Consumers were harmed by inflation
Workers' wages rose as industrialists profited
19
Which of the following helped fuel economic growth by encouraging people to buy American goods?
Laissez faire
Protective Tariffs
Patents
Monopolies
20
Labor union of skilled workers from small craft unions
American Railway Union (ARU)
Knights of Labor
American Federation of Labor (AFL)
Carnegie Steel