Lesson: Captains of Industry

Lesson: Captains of Industry

Multiple Choice

"Survival of the fittest" applied to business competition

• Social Gospel

• Gospel of Wealth

• Social Darwinism

Multiple Choice

How did critics claim that big business and monopolies hurt the economy?

• by limiting competition

• by decreasing the urban growth rate

• by preventing technological innovation

• by failing to keep pace with European industries

Multiple Choice

What term BEST describes the U.S. government's policies towards the regulation of businesses during the Gilded Age (late 1800s)?

• Imperialist

• Laissez-faire

• Mercantilists

• Protectionist

Multiple Choice

What does this image say about the control of Stand Oil?

• Standard Oil is a monster trying to control the entire USA

• Standard Oil is trying to save government from political bosses

• Standard Oil is trying to keep government on the right track to benefit laborers

• Stand Oil had control over many aspects of government

Multiple Choice

The belief that the rich were chosen by god to be rich and should therefore share their wealth.

• Gospel of Wealth

• laissez faire

• capitalism

• Social Darwinism

Multiple Choice

How did wealthy American industrialists of the late 19th century employ the theory of Social Darwinism?

• to support the labor union movement

• to defend and justify monopolistic actions

• to promote legislation establishing a minimum wage

• to encourage charitable organizations to help the poor

Multiple Choice

This type of monopoly involves companies buying all of the similar companies (Standard Oil)

• Horizontal Integration

• Vertical Integration

Multiple Choice

Which three big businesses transformed America in the years between 1870 and 1914?

• meatpacking, automobile, and construction

• railroads, steel and oil

• textile, meatpacking and canals

• political machines, settlement houses and ghettos

Multiple Select

Check all of the following that are associated with Andrew Carnegie

• Horizontal Integration

• Vertical Integration

• Oil Industry

• Captain of Industry

• Steel Industry

Multiple Choice

What was the primary purpose of the Interstate Commerce Act, and the Sherman Antitrust Act.

• to eliminate unfair business practices

• to reduce imports from foreign nations

• to reduce the power of labor unions

• to increase the power of local governments

Multiple Choice

Which of the following BEST describes horizontal integration?

• the economic development of flatlands in the American west

• a company owns all the businesses that supply it with raw goods and necessary services

• when the government lets businesses operate without restrictions

• a company acquires similar competing businesses and merges them into a single entity

Open Ended

Exit Question: Why are monopolies harmful to the American Economy