19-20 Unit 2 Review

Which goal was shared by both the Knights of Labor and the American Federation of Labor

• To help large corporations to increase their production

• To introduce new and innovative techniques to factories

• To promote immigration of skilled workers from Asia and Europe

• To organize workers to demand better conditions from employers

Vertical integration, a business strategy used by steel mogul Andrew Carnegie, involves

• Buying out raw material producers and distributors

• Merging with companies producing similar products

• Forming trusts

• Using new methods to increase production

The use of standardized time and time zones was introduced in order to benefit

• Telephone and telegraph operators

• Railroad companies and train travelers

• Manufacturers who dealt in interstate trade

• Factory owners whose workers had set schedules

In the late 1800s, which factor directly contributed to the growth of the American steel industry

• Government regulation

• New production techniques

• Employee ownership

• The formation of labor unions

The process of trying to control a product or service by buying out competition through friendly and hostile takeovers is known as

• Vertical Integration

• Transient Integration

• Horizontal Integration

• Darwinism

Laissez-faire relies on ____ to regulate prices and wages

• supply and demand

• businesses

• government

• the GNP

Andrew

Carnegie gained control of a large percentage of the steel industry by doing all of the following except

• Buying out his suppliers

• Buying out his competitors

• Cutting the quality of his products

• Underselling his competitors

What made it possible to construct skyscrapers in the 1800s

• Cheap electric power

• The invention of the elevator

• Fire safety standards

• Growth in population

What did monopolies and trusts reduce during the late 1800s

• Corruption

• Competition

• Immigration

• Interstate commerce

In the late nineteenth century, critics of the big business claimed that monopolies in the United States harmed the economy by

• Unfairly limiting competition

• Decreasing the urban growth rate

• Preventing technological innovation

• Failing to keep pace with European industries