Unit 2 - Day 1: Gilded Age - Rise of Big Business

Multiple Choice

Why was the Gilded Age significant for the development of big business in the United States?

• It marked the beginning of the Civil War

• It was a period of rapid industrial growth and innovation

• It was a time when agriculture dominated the economy

• It was a period of economic decline

Multiple Choice

How did industrialization change the U.S. economy after the Civil War?

• Industrialization led to a decline in urban populations.
• The U.S. economy remained primarily agricultural after the Civil War.
• The U.S. economy changed from agrarian to industrial.

• Job opportunities decreased as factories closed down.

Multiple Choice

Which of the following best describes the purpose of mass production in the American economy?

• To make goods faster and cheaper using machines

• To replace corporations with small businesses

• To reduce the number of workers in factories

• To increase government regulation of factories

Multiple Choice

Which of the following was NOT a key industrialists during the rise of American industry?

• Andrew Carnegie
• John D. Rockefeller
• Thomas Edison

• Henry Ford

• Cornelius Vanderbilt

Match

Match the following

• Horizontal Integration

• Vertical Integration

• Match this one

John D. Rockefeller

Andre Carnegie

With this one

• John D. Rockefeller

• Andre Carnegie

• With this one

Multiple Choice

Name of the US's first law passed to take on monopolies?

• Robinson-Patman Act
• Federal Trade Commission Act
• Sherman Antitrust Act
• Clayton Act

Multiple Choice

The Bessemer Process revolutionized the production of ___ by making it quicker and cheaper.

• iron
• steel
• copper
• aluminum

Match

Match the following people to their invention or innovation

• Thomas Edison

• Alexander Graham Bell

• Andrew Carnegie

Light Bulb/Electricity

Telephone

Bessemer Process

• Light Bulb/Electricity

• Telephone

• Bessemer Process

Match

Match the following

• Social Darwinism

• Social Gospel

• Gospel of Wealth

Natural selection applied to society

A movement to improve society through Christian ethics

Philanthropy as a moral obligation of the wealthy

• Natural selection applied to society

• A movement to improve society through Christian ethics

• Philanthropy as a moral obligation of the wealthy

Multiple Choice

Which best explains the EFFECT of Inventions + Laissez-faire + Mass production

• Increased unemployment rates.
• Big business rise, monopolies, worker exploitation

• Rise of government regulations.
• Decline of agricultural practices.

Multiple Choice

Explain how laissez-faire economics contributed to the growth of monopolies and worker exploitation in the late 19th century.

• Laissez-faire economics contributed to monopolies and worker exploitation

• Worker exploitation decreased due to increased competition among businesses.
• Monopolies were primarily caused by government regulations in the late 19th century.
• Laissez-faire economics ensured fair wages for all workers.

Multiple Choice

What is the main difference between horizontal integration and vertical integration as business strategies?

• Horizontal integration involves buying out competitors; vertical integration involves controlling all parts of production.

• Horizontal integration involves controlling all parts of production; vertical integration involves buying out competitors.

• Both involve government regulation of businesses.

• Both are strategies to increase government ownership of companies.

Multiple Choice

The Sherman Antitrust Act was the first federal law to limit ___ and promote fair competition.

• cartels
• monopolies
• price fixing
• trade unions