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The Triumph of Industry, 1865-1914 Flashcards | StudBud
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The Triumph of Industry, 1865-1914
The Triumph of Industry, 1865-1914
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1
Which industry most spurred economic growth and innovation in related industry?
Food
Steel
Railroads
Oil
2
Who was an oil tycoon who used horizontal integration?
Andrew Carnegie
Alissa Loving
John D. Rockefeller
Cornelius Vanderbilt
3
Someone who invests money into a business to make a profit is...
A Representative
An Entrepreneur
A Cartel
A Union Member
4
In the late 1800s, workers tolerated poor wages and working condition because they...
believed it had to get worse before it got better
were tricked by employers into taking dangerous jobs
thought that the government would protect them
could be replaced easily by other workers
5
Capitalism fueled industrialization by...
ensuring that all workers received high wages
giving the country many natural resources
encouraging entrepreneurs to establish businesses for profit
requiring inventors to file patents
6
In which system does 1 company control everything that makes up all phases of a development?
Horizontal Integration
Cartel
Trust
Vertical Integration
7
___ is a system for turning out a large # of products cheaply and quickly.
Integration
Monopoly
Collective Bargaining
Mass Production
8
Steel changed people's lives in making possible the...
Building of Skyscrapers, railroads, bridges, etc.
Development of Electricity
Invention of the Radio
Establishment of Time Zones
9
A steel tycoon who used vertical integration...
Cornelius Vanderbilt
Henry Frick
John D. Rockefeller
Andrew Carnegie
10
Which of the following helped fuel economic growth by encouraging people to buy American goods?
Tariffs
Patent
Monopolies
Laissez-faire
11
Corporations had the important advantage of...
developing into a monopolies
being run by an individual or a family
reducing the financial risk for individual investors
keeping prices high
12
A business where ownership is shared by several investors is...
Monopoly
Trust
Corportation
Cartel
13
Which argument supports the perception of big business leaders as "captain of industry"?
Workers' wages rose as industrialist profited
Consumers were harmed by inflated prices
Industrialists' support for technology benefited the economy
Monopolies forces small companies out of business
14
Horizontal integration differ from vertical integration in that it...
requires investment from several people who share ownership
combines all businesses involved in phases of development
merge stocks from many businesses into a new organization
Merging many business into 1 big company
15
Cartels, monopolies, trusts and horizontal and vertical integration all share the goal of...
Increasing profits
Combining resources
Raising wages
Driving up costs
