7.1B: Monopolies

Standard Oil was controlled by which business leader?

• John D. Rockefeller

• Andrew Carnegie

• Cornelius Vanderbilt

• JP Morgan

In the Gilded Age, the steel industry was controlled by which business leader?

• John D. Rockefeller

• Andrew Carnegie

• Cornelius Vanderbilt

• JP Morgan

What does this political cartoon show about Standard Oil during the Gilded Age?

• that the monopoly was unfairly influencing the government and other industries

• that the monopoly was doing a good job of reaching the government and other industries to help

• that the monopoly was being overtaken by greedy leaders

• that the monopoly was trying to establish an oligarchy in the US

Does this example support the idea that business leaders during the Gilded Age were "Captains of Industry" or "Robber Barons":

Jay Gould was involved with the Tammany Hall political machine.

• Captains of Industry

• Robber Barons

Does this example support the idea that business leaders during the Gilded Age were "Captains of Industry" or "Robber Barons":

Cornelius Vanderbilt gave $1 million to start Vanderbilt University.

• Captains of Industry

• Robber Barons

Vertical integration is

• owning at least one part of every step of production so you never have to go outside your own company to create your product; this allows the company to cut costs and drive other companies out of business

• controlling the majority or all of one step of production so that consumers have no choice but to come to your business if they want that product

Horizontal integration is

• owning at least one part of every step of production so you never have to go outside your own company to create your product; this allows the company to cut costs and drive other companies out of business

• controlling the majority or all of one step of production so that consumers have no choice but to come to your business if they want that product

How were business leaders able to accumulate wealth during the Gilded Age?

• by inventing new technology

• by developing new farming techniques

• by using mainly slave or forced labor

• by creating monopolies and establishing trusts

John D. Rockefeller used _______________ to control the oil industry.

• horizontal integration

• vertical integration

• both horizontal and vertical integration

Andrew Carnegie used _______________ to control the steel industry.

• horizontal integration

• vertical integration

• both horizontal and vertical integration