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Big Business
Big Business
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big business and 2nd industrial rev
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
Minorities were paid the same as whites on the railroads.
True
False
2
Social Darwinism
Dawes Act
No government interference in business
"Survival of the fittest"
3
This term describes businessmen that used corrupt/immoral practices to make money
Captain of Industry
Meanies
Robber Baron
4
This process injects air into molten iron creating a stronger steel
Kelley Steel
Bessemer Steel
Pig Iron
5
After the Civil War, some business leaders eliminated competition by
paying higher wages to their workers
developing overseas markets
Forming monopolies or trusts
increasing the price of their products
6
This is when a corporation buys stocks of other other companies to control them
Oligopoly
Trust
Holding Company
Monopoly
7
Interstate Commerce Act of 1887 helped to deregulate railroad business practices.
False
True
8
Who signed the Pacific Railway Act?
Washington
Lincoln
Garfield
9
Where was the transcontinental railroad completed?
Promontory Point Utah
San Francisco Ca
Boulder Co
10
This was not a factor that pushed the US from an agricultural society to an industrial nation
Immigrants
Natural resources
Lack of inventions
Free Enterprise
11
When a company purchases a competing company
Horizontal merger
Vertical Merger
12
Immigrants came to the US for all of the following reasons except
great social/economic conditions in Europe and China
Religious freedom in the US
Seeking a better life in America
13
All of these are examples of philanthropic (giving back) activities to benefit society except
Carnegie Hall
Kelley Industries
Rockefeller Foundation
Morgan Library
14
Social Darwinism affected the social class structure of the late 1800s by
allowing the wealthy to defend the gap between rich & poor
Supporting government welfare programs
supporting an increase in government regulations
15
Americans who agreed with the laissez-faire attitude in the late 1800s argued
National wealth comes from accumulation of gold
The government should not regulate business
The government should protect society by regulating business
Native Americans should be put on reserations
16
Railroad created time zones
False
True
17
Some businessmen vertically integrated their corporations to
inflating the price of their own stock
buy out all competing firms
eliminate the middlemen & control all aspects of production
18
How did the capitalist economy help the US industrialize quicker?
With no government regulation of business
With increased government regulation of business
19
These are all pros for new inventions execpt
refrigeration
longer hours for laborers
Increase in recreational inventions
20
Which is not a type of business
partnerships
duel propietorships
corporations
21
What was the result of the Morrill Tariff?
Embraced the idea of Laissez-faire
Decreased taxes
Taxes nearly tripled
22
This occurred when investors controlled both companies and signed contracts with themselves
Credit Mobilier scandal
Morrill Tariff Act
Interstate Commerce