US - 8 - Gilded Age / Industrialization

Big business owners were sometimes called "robber barons" because

• they robbed the rich and gave to the poor
• they used ruthless tactics and took advantage of their workers
• they were barons in England
• they were successful CEOs

Big business owners were sometimes referred to as "Captains of Industry" because

• they were successful leaders of industrialization in the main areas of steel, oil, coal, and railroads
• they were made Captains by the government
• they owned all of the factories in the U.S.
• they were in charge of all the other business owners

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 is another word for monopoly

• Trust
• Corporation
• Merger
• Subsidiary

This type of monopoly involves buying each step of the production process (Carnegie Steel)

• Vertical Integration
• Horizontal Integration

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

• Horizontal Integration
• Vertical Integration

Henry Ford’s main contribution to the US industry was the idea of the assembly line and __________.

• automobile
• mass production
• sports car
• transportation

The man responsible for founding the biggest steel corporation in the US during the period 1865-1900 was

• JP Morgan
• Andrew Carnegie
• John D. Rockefeller
• Cornelius Vanderbilt

The biggest oil company in the US during the period 1865-1900 was created by 

• JP Morgan
• Andrew Carnegie
• John D. Rockefeller
• Cornelius Vanderbilt

The wealthy often give away a portion of their earnings to good causes.  This practice is known as...

• a monopoly.
• philanthropy.
• economics.
• laissez-faire.