Big Business

What was the effect of the growth of monopolies?

• They increased competition among similar businesses
• They reduced the need for government intervention.
• They spread equal wealth among the entire population.
• They reduced the number of small businesses within an industry

What is a monopoly?

• A board game
• When a company has no competition
• When the government controls the business
• Labor Unions

Which best describes John Rockefeller?

• leader of a political machine
• robber baron who gained vast wealth from oil
• Vice President under Lincoln
• leader of the last Indian tribe to be defeated

Why was John D. Rockefeller called a robber baron?

• He was convicted of stealing from his company.

• He used ruthless business tactics to enrich himself.

• He gave much of his wealth to the poor.

• he stole European art treasures.

Which of the following did the ideology of "laissez-faire" discourage?

• hard work

• industrialization

• government regulation

• the accumulation of wealth

Industrial consolidation and trusts functioned during the late 1800's to reduce

• corruption

• monopolies

• competition

• interstate commerce

How do monopolies harm the consumer?

• they increase competition and allow for prices to drop

• they eliminate competition and allow for higher prices.

• they decrease the price of consumer products and increase the quality

• they encourage competition, but they increase prices

Steel changed people's lives in making possible the...

• Building of Skyscrapers
• Establishment of Time Zones
• Development of Electricity
• Use of Kerosene

Which three big businesses transformed America in the years between 1870 and 1914?

• meatpacking, automobile,  and construction
• railroads, steel and oil
• textile, meatpacking and canals
• political machines, settlement houses and ghettos

One major advantage of the assembly line was that it increased the -

• speed of production
• cost of production
• prices of goods
• wages of workers