2nd Industrial Revolution Review

The first step of the Business Cycle.....

• Peak

• Expansion

• Contraction

• Low Point

An example of something that could happen at Step 2 of the Business Cycle is.... (select 2)

• update products

• create an idea

• expand business

• declare bankruptcy

Someone that donates a lot of money to charity

• robber baron

• captain of industry

• philanthropist

• stock

Google buying YouTube is an example of what business strategy?

• vertical integration

• horizontal integration

• monopoly

• robber baron

Andrew Carnegie controlling all the processes related to making steel is an example of what business strategy?

• vertical integration

• horizontal integration

• robber baron

• philanthropist

Which examples would make sense at the 4th step of the Business Cycle? (select 2)

• File for bankruptcy

• Expand your business

• Begin to advertise your business

• Fire workers

In a capitalist economy who owns the businesses?

• Private individuals

• Government

• Military

• Groups of government representatives

Wealthy businessman that uses questionable business tactics

• Captain of Industry

• Robber Baron

• Philanthropist

• Corporation

Which of the following could lead to a contraction?

• competition

• high sales

• reduced government taxes

• a great idea

Firing workers would most likely take place at which step of the Business Cycle

• Step 1

• Step 2

• Step 3

• Step 4