Identify one of the benefits of the growth of railroads.

the transcontinental connections across the nation

Social Darwinism was a philosophy used to

justify the wealth of men like Carnegie and Rockefeller.

Companies achieve economies of scale by

investing in technology and new equipment.

Identify one of the ways that the railroad companies hurt farmers.

they "fixed" prices making shipping more expensive

Companies sell stock in order to

raise capital for expansion purposes.

One problem that farmers faced during the late 1800s was

high shipping costs for their crops.

prices for goods decrease and the value of money increases.

The political cartoon conveys the idea

that big business is too controlling.

One of the main problems that farmers experienced after the Civil War was

low prices paid for their crops.

An entrepreneur is someone willing to

take a risk and invest in their own company.

the low point in a situation or event.

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Chapter 3 Review 2023

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Test Review

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Questions 30

Answers

1
Which description or definition best fits with the diagram/image?
trusts
stock
vertical integration
horizontal integration
2
This image reflects
changes in mail delivery.
a successful trust.
a monopoly forming.
changes in retail sales.
3
Identify one of the benefits of the growth of railroads.
the higher prices farmers were charged for shipping.
the transcontinental connections across the nation
corruption that occurred, especially in government
the growth of railroad companies' power
4
The main product extracted from oil in the mid to late 1800s is
jet fuel.
gasoline.
diesel.
kerosene.
5
The transcontinental railroad was completed in
1864
1890
1877
1869
6
The right to vote for adult men regardless of race or previous servitude is protected by
the 14th Amendment.
the 15th Amendment.
the 13th Amendment.
the 16th Amendment.
7
The ______ defined citizenship and guaranteed equal protection under the law.
16th Amendment
13th Amendment
15th Amendment
14th Amendment
8
Social Darwinism was a philosophy used to
explain the physical differences in animals.
justify the wealth of men like Carnegie and Rockefeller.
justify paying laborers higher wages.
support the regulation of the railroads.
9
Companies achieve economies of scale by
investing in technology and new equipment.
putting their competitors out of business.
quickly selling off their stock.
controlling the railroad to lower shipping costs.
10
The ______ gave land to states in order to start agricultural colleges.
Sherman Antitrust Act
Morrill Act
Curtis Act
Homestead Act
11
Which term or description best fits the diagram/image?
vertical integration
horizontal integration
trusts
holding company
12
Because of a lack of laborers in California, the Central Pacific Railroad hired
Japanese workers.
Filipino workers.
Chinese workers.
Irish workers.
13
Identify one of the ways that the railroad companies hurt farmers.
they "fixed" prices making shipping more expensive
they connected the country, providing access for shipping
receiving land grants from the government for laying track
overcharging more for construction to keep the difference
14
Companies sell stock in order to
raise capital for expansion purposes.
put their competitors out of business.
get rid of capital that is slowing them down.
combine with other companies more easily.
15
One of the major reasons for crop prices falling in the late 1800s was
European crops flooding the U.S. market.
overproduction.
inflation.
underproduction.
16
If it is 12 noon here in Florida, what time is it in California (according to time zones)?
11am
10am
8am
9am
17
One problem that farmers faced during the late 1800s was
more affordable loans.
high shipping costs for their crops.
an increase in their crop prices.
a decrease in the cost for equipment.
18
Deflation means
prices for goods decrease and the value of money increases.
prices for goods decrease and the value of money decreases.
prices for goods increase and the value of money increases.
prices for goods increase and the value of money decreases.
19
Supporters of _________ believe the government should not interfere with business.
fascism
communism
laissez-faire
socialism
20
The political cartoon conveys the idea
that big business is too controlling.
that big business leaders are becoming royalty.
that big business is good for America.
that big business needs more power to expand.
21
One of the main problems that farmers experienced after the Civil War was
the increased availability of currency/money.
great deals on railroad shipping costs.
low prices paid for their crops.
low interest rates banks offered for loans.
22
John D. Rockefeller dominated the ___________________ industry by using horizontal integration.
oil refining
mining
railroad
steel production
23
An entrepreneur is someone willing to
run for public office.
invest with another company.
take a risk and invest in their own company.
work as a manager for a company.
24
Nadir means
the low point in a situation or event.
the end point in a situation or event.
the high point in a situation or event.
the beginning point in a situation or event.
25
One of Thomas Edison's most important inventions/innovations is
light bulb.
toaster oven.
elevator.
refrigerated railway car.
26
When a business or company has complete control over production and prices it is
a monopoly.
a transcontinental network.
a small individual business.
27
The most powerful companies in the world by the mid to later 1800s were
the textile companies.
the mining companies.
the mail-order catalog companies.
the railroad companies.
28
Andrew Carnegie utilized the concept of ________ by controlling production from raw to retail.
the Bessemer Process
vertical integration
horizontal integration
the efficiency standard
29
The U.S. raising tariffs harmed ____________ the most.
major U.S. businesses
farmers
the fishing industry
consumers
30
The notoriously corrupt railroad owner was
J. P. Morgan.
Jay Gould.
Andrew Carnegie.
John D. Rockefeller.

Chapter 3 Review 2023 Flashcards | StudBud