Rise of Big Business

Front

Which Gilded Age tycoon wrote the Gospel of Wealth and thought that the wealthy had a responsibility to donate money and contribute to the good of society?

Back

Andrew Carnegie

Front

What is it called when a company owns and controls all steps of production, from raw material to the finished good?

Back

Vertical Integration

Front

What was Henry Ford’s main contribution to U.S. industry? implementing and improving the assembly line

Back

implementing and improving the assembly line

Front

This Gilded Age tycoon eliminated his competition and built the Standard Oil Company.

Back

John D. Rockefeller

Front

According to this political cartoon, who is in control of the US lawmakers?

Back

large monopolies and trusts

Front

What would someone who believed in laissez-faire capitalism most likely say?

Back

The government should not restrict the activities of corporations.

Front

Which of the following was NOT a benefit of the growth of industry and expansion of big business? Options: Large companies had a positive impact on the economy as they created job opportunities for a large number of workers. , Large companies were more efficient and could therefore lower the price of their products, Large companies utilized the latest innovations to streamline and improve the production process and could therefore produce a larger quantity of goods., Large companies often had a strong influence on politicians and interfered with government regulations

Back

Large companies often had a strong influence on politicians and interfered with government regulations

Front

What type of business integration is being illustrated in the diagram?

Back

Vertical Integration

Front

A Gilded Age business owner who became rich through ruthless business tactics, often at the expense of others.

Back

Robber Baron

Front

Businesses often implemented the assembly line as a cost-saving method since they could hire

Back

unskilled workers