Age of Big Business & Historical Figures

Front

What does capital (money) have to do with the growth of business?

Back

Capital is important for business growth.

Front

Andrew Carnegie was:

Back

a Scottish-American industrialist, philanthropist, & tycoon

Front

Why were “trusts” considered to be a problem?

Back

They led to monopolies and reduced competition.

Front

What are the three factors of production?

Back

Land, Labor, Capital

Front

Who buys stock?

Back

People & Companies

Front

How did Standard Oil become a monopoly (hint** a control-freak)?

Back

By buying smaller businesses and making deals with the railroad companies

Front

Why did Congress pass the Sherman Antitrust Act?

Back

To promote fair competition and stop monopolies

Front

What was the primary industry that Vanderbilt was involved in?

Back

Railroads & Steamboats

Front

What is the role of workers in the factors of production?

Back

Workers provide the people needed to produce goods

Front

Which of the following is a NATURAL resource in the factors of production? Capital, Labor, Entrepreneurship, Land

Back

Land