stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Age of Innovation and Industry Review Flashcards | StudBud
Explore
/
Age of Innovation and Industry Review
Age of Innovation and Industry Review
30 terms
·
StudBud Administration
·
1,654 plays
A #history quiz to practice for the #Gilded Age test.
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
What American inventor was responsible for the creation of the Telephone?
Thomas Edison
Samuel Morse
Henry Bessemer
Alexander Graham Bell
2
When business conditions are poor, causing stock prices to drop
Black Market
Red Market
Bear Market
Bull market
3
How did the Bessemer Process help with Industrialization?
decrease in the use of steel
Increase in steel production
More expensive steel prices
Increase in factory work
4
The purpose of the Sherman Anti-Trust Act was to
discourage new businesses
reduce taxes on imports
limit government activity in business
eliminate monopolies by making them illegal
5
The economic system where assets are privately owned rather than government controlled
Communism
Populism
Capitalism
Socialism
6
Why did Andrew Carnegie state that "anyone who ides rich dies disgraced"?
He thought rich should spend all their money before dying
He believed should use their extra wealth to help others
He said a man should pass on all extra wealth to his kids
He argued it was shameful to possess a large sum of money
7
Why is Thomas Edison's work important?
He created an electricity monopoly.
He developed an efficient way to make steel.
He invented the telegraph.
He helped make electricity more available.
8
Why did the Sherman Anti-Trust Act initially fail to reduce the influence of Big Business?
Vague language led to weak government enforcement
Smaller businesses opposed the new reform efforts
Laissez-Faire economics grew extremely unpopular
Large corporations paid off judges for favorable rulings
9
In which way did the building of the Transcontinental RR NOT affect people's way of life?
Helped farmers grow crops
Made travel to the West easier
lowered shipping costs for business
Improved mail service
10
A belief that business shouldn't be regulated but allowed to operate w/o gov't interference
Marxism
Laissez Faire
Socialism
Communism
11
One of the major industries of the Industrial Revolution was
Steam
Steel
Copper
Coal
12
Why were the late 1800s often referred to as the Gilded Age?
National and local economies did poorly
Some industrialists got rich despite a lot of unrest
Times were extremely prosperous for most working Americans
Most feared the nation would fall apart due to big industry
13
Risk-takers who establish their own businesses are often referred to as
Trustees
Entrepreneurs
Integrators
Social Darwinists
14
What led to the creation of time zones?
Telegraph
Sears Catalog
Bessemer Process
Transcontinental Railroad
15
The growth of cities in the late 1800s was caused mostly by
the expansion of industry.
the increase in political involvement.
the expansion of farms.
the rise of public education.
16
How did financial backers protect their investments in inventions?
They invested across all competing inventors
They bribed gov't officials to pass new laws
They encouraged inventors to acquire patents
They chose to invest in only proven commodities
17
Which of the following best describes the process of horizontal integration?
Joining together all of the firms from the same industry
improving productivity through mass production techniques
taking control of each step in product production/transport
Patenting all related tech and inventions across an industry
18
What did Andrew Carnegie believe?
Monopolies should be illegal
Trusts were the way to increase competition
Monopolies were useful for buying out competition
Trusts made smaller companies more successful
19
John D. Rockefeller's Standard Oil Company embarked on a plan of horizontal integration to
create a trust
sell oil to markets overseas
form a corporation
form a monopoly
20
Who made the first automobile?
Benz
Duryea
Ford
Rewa
21
Transportation networks that encouraged industrial growth were called
philanthropists
Mass transit
Brooklyn Bridge
Monopolies
22
Who was famous for utilizing the moving assembly line to produce product much more efficiently?
Rockefeller
Bessemer
Ford
Carnegie
23
What invention by Samuel Morse revolutionized long-distance communication?
Type-writer
Telegraph
Post System
Telephone
24
The inventor of AC electricity; later believed you could get electricity from the air
Edison
Tesla
Bell
Westinghouse
25
What became the major factor emphasized by factories in the industrial age?
Productivity
Skilled work force
Reducing costs
Education
26
A corporation that gains complete control over a market becomes a
Stock
Robber Baron
Monopoly
Captain of Industry
27
The idea of survival of the fittest, but for businesses is known as
Corporation
Laissez Faire
Monopoly
Social Darwinism
28
A person who is wealthy and gives money to charity is called a ____.
philanthropist
benevolent
philosopher
robber baron
29
All of the following factors contributed to the huge industrial boom of the early 1900s except
the expansion of the railroad
government heavily regulating and restricting business
Abundant natural resources
a large immigrant and growing urban population
30
Which industrialist got extremely wealth by using vertical integration?
Rockefeller
Morgan
Vanderbilt
Carnegie
