
Chapter 5 Flashcard
Flashcard
•
English
•
11th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What are laissez-faire policies?
Back
Economic policies that minimize government intervention in business, allowing for free-market competition.
2.
FLASHCARD QUESTION
Front
What was the impact of laissez-faire policies during the Gilded Age?
Back
They resulted in minimal government interference, allowing businesses to grow unchecked.
3.
FLASHCARD QUESTION
Front
What is horizontal integration?
Back
A business strategy where a company acquires or merges with competitors to increase market share.
4.
FLASHCARD QUESTION
Front
What is vertical integration?
Back
A business strategy where a company controls multiple stages of production, from raw materials to final product.
5.
FLASHCARD QUESTION
Front
Who was John D. Rockefeller?
Back
An American oil industry magnate known for founding Standard Oil and using horizontal integration.
6.
FLASHCARD QUESTION
Front
Who was Andrew Carnegie?
Back
An American steel industry leader known for his use of vertical integration in the steel business.
7.
FLASHCARD QUESTION
Front
What does AFL stand for?
Back
American Federation of Labor, an organization founded by Samuel Gompers to represent skilled workers.
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