Semester One Review

Carnegie owned a monopoly on what?

• Railroads

• Steel

• Electricity

• Oil

Who was the richest man in the world?

• Carnegie

• Ford

• Rockefeller

• Bessemer

What is a monopoly?

• An economic system

• A board game

• Complete ownership of the supply of a certain product

• A disease

Why were labor unions created?

• To give workers stability

• To protect workers

• To give workers increased pay

• All of the above

What industry created time zones?

• Electricity

• Oil

• Railroads

• Steel

What is horizontal integration?

• Gaining control of competitors

• Selling your business

• Gaining control of all factors of production

• Making your business wider

What is vertical integration?

• Gaining control of competitors

• Selling your business

• Gaining control of the production process

• Making your business taller

The Bessemer _____ Process created what?

• Oil

• Steel

• Money

• Electricity

Which of these was not a prominent inventor of the 1800s?

• Sholes

• Elon Musk

• Bell

• Edison

What is Black Gold?

• Burnt Cheese

• Kind of like rose gold but not

• Oil

• Coal