Midterm Study Set 1

Midterm Study Set 1

Assessment

Flashcard

History

9th Grade

Practice Problem

Easy

Created by

Elizabeth Rann

Used 1+ times

FREE Resource

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59 questions

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1.

FLASHCARD QUESTION

Front

Andrew Carnegie

Back

One of America's wealthiest steel tycoons. He gave away over $350 million of his own fortune because he was a dedicated philanthropist. Wrote 'The Gospel of Wealth'.

2.

FLASHCARD QUESTION

Front

Bessemer Process

Back

Injecting air into molten iron to remove impurities to make a softer metal - steel.

3.

FLASHCARD QUESTION

Front

Capitalism

Back

An economy based on supply and demand, private ownership of business, individual economic freedom, and a free market. Motivator = Profit.

4.

FLASHCARD QUESTION

Front

Cartels

Back

When companies band together to engage in price fixing by purposefully limiting production.

5.

FLASHCARD QUESTION

Front

Monopoly

Back

Industry owned/controlled by a single corporation.

6.

FLASHCARD QUESTION

Front

Corporation

Back

When a business turns over ownership to a group of investors.

7.

FLASHCARD QUESTION

Front

Cornelius Vanderbilt

Back

Railroad tycoon. He offered lower rates to drive his competitors out or they paid him to leave.

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