NIE Test Review

Front

A board of directors is

Back

highest stockholders, make decisions for the company

Front

Which is NOT an ingredient for steel? Options: iron ore, coke (heated coal), copper, limestone

Back

copper

Front

The Bessemer Process:

Back

made steel better, stronger, faster, cheaper

Front

Which city was known as the Steel Capital of the United States?

Back

Pittsburgh

Front

Pittsburgh was ideal for the growth of the steel industry because: All the ingredients for steel were right there, it had flat land, it had waterways gave easy access to natural resources, rich investors lived there

Back

it had waterways gave easy access to natural resources

Front

Stocks are:

Back

owning a part (share) of a company

Front

A trust/monopoly has

Back

near total control over an industry

Front

Vertical Integration is

Back

owning all steps of an industry from start to finish, one way Andrew Carnegie got rich, A business practice that gets rid of paying middlemen

Front

Which of the following is NOT a function of labor unions? banding workers together for more arguing power, negotiating better working conditions, hours, and pay, collective bargaining

Back

making decisions for a company to maximize profit

Front

A sweatshop is

Back

a hot, dirty, crowded factory or apartment with long hours and low pay