3.3 Big Business

Multiple Choice

During the Gilded Age, how did Americans generally feel about their society?

• They were uncertain and fearful

• They felt they were at the forefront of civilization

• They were indifferent to progress

• They were mostly unhappy

Multiple Choice

How much wealth did the richest 4,000 families in the U.S. hold compared to the rest of the population?

• More than half of the nation's wealth

• Equal wealth to the bottom half of families

• Nearly the same as the bottom 11.6 million families

• Less than the average family

Multiple Choice

What transformation affected American society thirty years after the Civil War?

• Decrease in industrial jobs

• Major economic and social changes

• Return to a farming economy

• Increased regional divisions

Multiple Choice

Which entrepreneur is highlighted as a symbol of the new American dream during this time?

• John D. Rockefeller

• Andrew Carnegie

• Cornelius Vanderbilt

• Henry Ford

Categorize

Options (6)

Businesses unregulated by government

Strongest entrepreneurs prospered

Businesses become more efficient and profitable

Industries dominated by fewer businesses

Owners exploit consumers and workers

Congress passed the Sherman Antitrust Act

For each category (Cause) list the effects that go with that cause.

Laissez-faire capitalism

Business consolidate through mergers

Big business becomes very powerful

Multiple Choice

Which of the following correctly describes the attitude of business

leaders about government intervention in the industry?

• It would benefit the economy.

• It would hurt weaker companies.

• It would lead to increased profits.

• It would destroy individual self-reliance.

Multiple Choice

Which of the following correctly explains how Andrew Carnegie

improved his manufacturing operation to maximize profits?

• He used vertical integration to limit his competition.

• He searched for ways to make better products more cheaply.

• He used horizontal integration to gain control of his suppliers.

• He created holding companies to gain control of other industries.

Multiple Choice

Which of the following are reasons why the South industrialized

more slowly than the North?

• Southern businesses had low transportation costs.

• Southern businesses owned most of the railroads.

• People in the South lacked capital for investment.

• The environment in the South was ideal for industry.

Open Ended

How did the philosophy of Social Darwinism

justify the doctrine of laissez-faire?