Big Business Vocab Quiz Review

An industrialist and philanthropist who built Carnegie Steel Co. He felt that the rich had a duty to help poor and improve society.

• Sherman

• Andrew Carnegie

• John D. Rockefeller

An economic system based on private competition, initiative, profit and the private ownership of the means of producing goods and services.

• Corporation

• Assembly line

• Capitalism

• Social Darwinism

A term used to describe the period from 1865-1900, extreme wealth and spending.

• Laissez-faire

• Monopoly

• Gilded Age

• Industrialized

A federal law that outlawed transportation of impure or diluted foods and mislabeling of drugs.

• Pure Food and Drug Act

• Sherman Antitrust Act

• Interstate Commerce Act

• Corporation

A method of production where items move past workers and machines are assembled piece by piece. First used by Henry Ford.

• Capitalism

• Corporation

• Monopoly

• Assembly Line

Negative view of Industrialists, gained their wealth at the expense of the poor and working class.

• Robber Barons

• Sherman Acts

• Social Darwinism

• Captains of Industry

A long and severe decline in economic activity.

• Depression

• Industry

• Recession

• Gilded Age

Positive view of Industrialists, created new products, highly efficient business, and donated to charities.

• Big Business

• Captains of Industry

• Robber Barons

• Capitalism

Created the first regulatory agency, Interstate Commerce Commision. Regulated railroad industry.

• Interstate Commerce Act

• Laissez-faire

• Sherman Antitrust Act

The belief that the revolutionary idea of "survival of the fittest" applied to societies and businesses.

• Depression

• Monopoly

• Social Darwinism