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Carnegie and Rockefeller Flashcards | StudBud
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Carnegie and Rockefeller
Carnegie and Rockefeller
16 terms
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StudBud Administration
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Robber Baron quiz prep
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Questions
16
Answers
1
What kind of wages did Rockefeller pay?
Low
No wages
High
Average
2
What was the name of Rockefeller's company?
Carnegie Steel
Standard Oil
Shell
Mobil
3
By 1899, Carnegie's business produced more of what product than all the factories in England?
Rubber
Railroads
Steel
Oil
4
What's the process where a business controls all the resources, manufacturing and distributing?
Horizontal integration
Monopoly
Trust
Vertical integration
5
How did Rockefeller drive his competition out of business?
Raising prices
Underselling
Arson
Overselling
6
What does Laissez Faire mean and how does it apply to business?
"Allow to do" and marketplace SHOULDN'T be regulated
"Don't allow to do" and marketplace SHOULDN'T be regulated
"Allow to do" and marketplace SHOULD be regulated
"Don't allow to do" and marketplace SHOULD be regulated
7
In what industry did Rockefeller make his money?
Railroads
Oil
Steel
Banking
8
What is the term for the complete control of an industry's production, wages, and prices?
Trust
Monopoly
Comprehensive integration
Vertical integration
9
Where was Andrew Carnegie from?
England
Ireland
Scotland
Canada
10
What theory stated the success and failure of businesses were governed by natural law?
Natural law
Evolution
Social Darwinism
Gospel of wealth
11
What is the title for business leaders that used tactics like Rockefeller and others?
Captains of Industry
Robber Captains
Barons of Industry
Robber Barons
12
What is philanthropy?
Promoting the welfare of others through generous donations
Stealing from the rich to give to the poor
Volunteering
Giving small amounts of money to charities
13
What percentage of his wealth did Carnegie donate?
50%
75%
90%
99%
14
What English philosopher applied Charles Darwin's theory of natural selection to society?
Herbert Hoover
John Rockefeller
Andrew Carnegie
Herbert Spencer
15
In what industry did Carnegie FIRST make his fortune?
Railroads
Oil
Steel
Banking
16
What is the business strategy where a company buys out its competitors or merges with them?
Monopoly
Trust
Horizontal integration
Vertical integration
