Industrial Revolution

Describe how and why the American Industry developed quickly in the nineteenth century due to Laissez-Faire upregulation?

• the American economy benefitted from low taxation.
• the American economy was largely unregulated.
• Aliens
• the American economy benefitted from immigrant labor

What was Andrew Carnegie known for?

• Oil business
• Steel business
• Railroad business
• Banking

What was John D. Rockefeller known for?

• Multi Millionaire from a steel business
• Built railroads
• built an oil empire, Standard Oil kerosene.
• Fold away bed

What was Thomas Edison known for?

• Created the light bulb
• Created the morse code
• Oil business
• Banking

Which of the following groups would most likely benefit from the socialist ideas of Karl Marx?

• Entrepreneurs
• Factory Workers
• Large Business Corporations
• Factory Managers

What is the movement of people from rural to urban areas called?

• ruralization
• colonization
• inflation
• urbanization

A monopoly is when...

• a company makes goods with machines
• a company makes goods by hand
• a company takes control of a product or service
• government takes over a business

This process converted iron to steel and allowed for taller buildings, longer bridges, and heavier machinery.

• Carnegie Process
• Ironing Process
• Bessemer Process
• Bell Process

This person invented the phonograph, audio recorder, battery, and electric lightbulb.

• Thomas Edison
• Nicolai Tesla
• Alexander Graham Bell
• Andrew Carnegie

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

• Horizontal Integration
• Vertical Integration