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Industrialization, Inventions, and Big Business Flashcards | StudBud
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Industrialization, Inventions, and Big Business
Industrialization, Inventions, and Big Business
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Review for the Industrialization Test.
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
A belief that business should not be regulated by the government.
Laissez Faire
Marxism
Socialism
Communism
2
In which way did the building of the transcontinental railroad
NOT
affect people's way of life?
lowered shipping costs for businesses
improved mail service
made travel to the west easier
helped farmers grow crops
3
What American inventor was responsible for the creation of the telephone?
Samuel Morse
Henry Bessemer
Thomas Edison
Alexander Graham Bell
4
Which of the following best describes horizontal integration?
patenting all related tech in an industry
improving productivity through mass production techniques
Joining together all firms in the same industry
taking control of each step in product production
5
Why did the Sherman Antitrust Act initially fail to reduce the influence of big business?
vague language led to weak government enforcement
Large corporations paid of judges for favorable rulings
smaller businesses opposed the new reform efforts
Laissez-faire economics grew extremely unpopular
6
Why is Thomas Edison's work important?
he developed an efficient way to make steel
He helped make electricity more available
he invented the telegraph
he created an electricity monopoly
7
The idea of survival of the fittest, but for businesses, is know as
Social Darwinism
Laissez faire
Monopoly
Corporation
8
What invention by Samuel Morse revolutionized long-distance communication?
Telephone
Type-writer
Telegraph
Post system
9
All of the following factors contributed to the huge industrial boom of the 1900s
except
A large immigrant and growing urban population
the expansion of the railroad
abundant natural resources
government heavily regulating and restricting business
10
What did Andrew Carnegie believe?
Trusts made smaller companies more successful
Trusts were the way to increase competition
Monopolies were useful for buying out competition
Monopolies should be illegal
11
Which was not a problem for the working class?
More variety of products to buy
Dangerous working conditions
Low pay
Cramped, smelly housing
12
How did the Bessemer Process help with Industrialization?
Increase in steel production
decrease in the use of steel
More expensive steel prices
increase in factory work
13
Why were the late-1800s often referred to as the Gilded Age?
Some industrialists grew wealthy despite much unrest
most feared big business would tear the nation apart
The times were extremely prosperous for most workers
The economy did poorly during this industrial period
14
A corporation that gains complete control over a market becomes a
Stock
Captain of Industry
Monopoly
Robber Baron
15
Which of the following is the best example of Vertical Integration?
Carnegie with Steel
Vanderbilt with Railroads
Rockefeller with Oil
Rockefeller with steel
16
One of the major industries of the Industrial Revolution was
Copper
Coal
Steel
Steam
17
Risk-takers who establish their own businesses are often referred to as
Social Darwinists
Integrators
Trustees
Entrepreneurs
18
What became the major factor emphasized by factories in the industrial age?
Skilled workforce
Productivity
Education
Reducing Costs
19
What is stock?
A cow
Soup
A type of train car
A share of the ownership of a business
20
Which Industrialist was the first to use the moving assembly line in his factories?
Ford
Vanderbilt
Benz
Carnegie
21
The economic system where assets are privately owned rather than government controlled
Capitalism
Marxism
Laissez Faire
Populism
22
Transportation networks that encouraged industrial growth were called
Mass Transit
Monopolies
Brooklyn Bridge
Philantropists
23
Why did Andrew Carnegie state that "anyone who dies rich dies disgraced"?
a man should pass on his extra wealth to his kids
It was shameful to be in possession of a large sum of money
rich people should spend all their money before they die
wealthy people should use their money to help others
24
The purpose of the Sherman Anti-Trust Act was to
Make monopolies illegal
Limit government activity in business
Discourage new businesses
Reduce taxes on imports
25
The growth of cities in the late 1800s was caused mostly by
the rise of public education
the expansion of industry
the increase in political involvement
the expansion of farms
26
How did financial backers protect their investments in inventions?
They chose to invest in only proven commodities.
They invested across all competing inventors.
They bribed government officials to pass new laws.
They encouraged inventors to acquire patents.
27
Used to describe industrialists as positive examples of business success.
Robber Barons
Monopoly Men
Captains of America
Captains of Industry
28
When business conditions are poor, causing stock prices to drop, it is called a
Black Market
Bear Market
Bull Market
Red Market
29
A person who is wealthy and gives money to charity is called a
Benevolent
Philosopher
Robber Baron
Philanthropist
30
John D. Rockefeller's Standard Oil Company used horizontal integration in order to
form a corporation
Form a monopoly
Break up a trust
sell oil to markets overseas
