1.3 Review

Multiple Choice

What are some technological reasons for the 2nd Industrial Revolution?

• Interchangeable parts and water power

• Assembly line and mass production

• Railroads and expanded access to natural resources.

• Factory system and division of labor

Multiple Choice

"Free competition can no longer be said to exist... Its vice was that it drove men to such intense warfare that the alternative to mutual destruction was combination. The end of free competition is an absolute monopoly. It has been standard economic doctrine that when a business becomes a monopoly it must be regulated by the state, or taken over by it. But we have arrived at a point where the monopolies are regulating the state."

Henry Demarest Lloyd, Lords of Industry

What government policy would allow the following to happen?

• State socialism (government ownership of major industries)
• Mercantilism (government-controlled trade and industry)
• Laissez-faire capitalism (minimal government regulation)
• Government-regulated capitalism (strict state oversight)

Multiple Choice

What was the impact of the image on manufacturing?

• Assembly-line manufacturing made production more complicated and costly, reducing automobile availability.
• Handcrafted manufacturing made production slower and more expensive, limiting automobile output.
• Assembly-line manufacturing made production faster and cheaper, allowing automobiles to be produced in large quantities.
• Factory production became less efficient, causing automobiles to be produced in smaller quantities.

Multiple Choice

How does the 2nd Industrial Revolution differ from the first?

• The Second Industrial Revolution focused on steam power, coal, textiles, and iron while reducing the use of electricity, oil, and mass production.
• The Second Industrial Revolution differed by emphasizing agriculture, small workshops, local trade, and animal power instead of large-scale factory production.
• The Second Industrial Revolution relied mainly on water power, wood, farming, and handcrafted production rather than new industrial technologies.
• The Second Industrial Revolution differed by relying on electricity, oil, steel, chemicals, and mass production rather than primarily steam power, coal, textiles, and iron.

Multiple Choice

What was the relationship between agricultural and manufacturing jobs during the 2nd Industrial Revolution?

• Agricultural jobs declined, while manufacturing jobs increased during the Second Industrial Revolution.
• Agricultural jobs increased, while manufacturing jobs declined during the Second Industrial Revolution.
• Agricultural and manufacturing jobs both increased during the Second Industrial Revolution.
• Agricultural and manufacturing jobs both declined during the Second Industrial Revolution.

Multiple Choice

What was a societal consequence from the 2nd Industrial Revolution?

• Growing Wealth Inequality

• Widespread migration from cities to isolated rural communities.
• The disappearance of social class divisions in industrial society.
• A decline in factory production and industrial employment.

Multiple Choice

What is a key difference between Capitalism and Communism?

• Capitalism emphasizes private ownership and market competition, while Communism emphasizes collective or state ownership and centralized economic planning.
• Capitalism emphasizes state ownership and centralized planning, while Communism emphasizes private ownership and market competition.
• Capitalism and Communism both emphasize private ownership, but differ mainly in their approaches to international trade.
• Capitalism relies on collective ownership and government planning, while Communism relies on individual ownership and free markets.

Multiple Choice

Why are monopolies more likely to form in a capitalist economic system?

• Monopolies are more likely to form because of lassiez-faire economic policies.

• Monopolies develop when firms avoid expansion and focus on serving local markets with minimal investment.
• Monopolies are more likely because consumers prefer buying from one firm, reducing the importance of competition and innovation.
• Monopolies form because government regulations prevent firms from competing and protect smaller businesses.

Multiple Choice

What is Horizonal Integration and which Captain of Industry employed it?

• Government regulation; J. P. Morgan.
• Vertical integration; Andrew Carnegie.
• Monopoly pricing; Cornelius Vanderbilt.
• Horizontal integration; John D. Rockefeller.

Multiple Choice

What is the illustrator's point in this political cartoon?

• The cartoon praises Rockefeller for using his wealth to strengthen democratic government.
• The cartoon argues that government officials had successfully limited the power of wealthy industrialists.
• The cartoon suggests that small businesses benefited from Rockefeller’s control of national affairs.
• The cartoon argues that wealthy monopolists had gained excessive control over the government and national affairs.

Multiple Choice

Which of the following statements best describes vertical integration?

• Owning every stage of production, from raw materials to finished product

• Buying out competitors at the same stage of production

• Government regulation of the economy

• Combining multiple companies to control a market

Multiple Choice

Why did Andrew Carnagie argue for Social Darwinism?

• He believed poverty resulted from personal weakness and saw no responsibility for the wealthy to assist society.
• He rejected economic competition, arguing that government should guarantee equal wealth for all citizens.
• He viewed economic competition and inequality as natural, beneficial forces.

• He supported Social Darwinism because inherited wealth proved moral superiority and justified avoiding public charity.

Multiple Choice

What is the connection between Trusts and Social Darwinism?

• Trusts were small businesses that Social Darwinists opposed as artificial limits on competition.
• Trusts were labor organizations that Social Darwinists supported as evidence of worker cooperation.
• Trusts were large business combinations that Social Darwinists defended as the natural result of competition and the survival of the fittest.
• Trusts were government agencies that Social Darwinists created to promote economic equality.

Multiple Choice

Granville Woods developed railway telegraph technology during the 2nd Industrial Revolution. What does this say about African American contributions during the 2nd Industrial Revolution?

• African Americans had little involvement in technological innovation during the 2nd Industrial Revolution.
• African Americans contributed only through manual labor, rather than scientific and technological innovation.
• African Americans gained equal opportunities and faced little discrimination during the 2nd Industrial Revolution.
• African Americans were significant innovators and contributors to the 2nd Industrial Revolution, despite facing discrimination and limited opportunities.

Multiple Choice

What societal impact did Madam C.J. Walker have during industrialization?

• She focused on expanding factory production while discouraging Black women from entering business or education.
• She empowered Black women through jobs, entrepreneurship, and economic independence.

• She became wealthy by selling products but avoided involvement in civil rights, education, or charitable efforts.
• She primarily promoted beauty standards among wealthy customers without creating jobs or supporting community causes.

Multiple Choice

Which of the following best describes the impact of Henry Flagler's work in Florida?

• He developed Florida's railroads and hotels, boosting tourism and development.

• He invented the telegraph system for trains.

• He was a leader in the National Negro Business League.

• He built a successful hair care business for African American women.

Multiple Choice

What is a natural consequence of Flagler adding a ferry system to his railway?

• The railway could reach northern Florida, reducing travel and trade there.
• The ferry system could replace the railway, ending transportation to the Keys.
• The railway could connect Florida to Cuba, increasing international travel and trade.
• The railway could extend to the Florida Keys, increasing travel and trade there.