Big Business and Industrialization

What is the meaning of this cartoon?

• The children need food

• The children need new clothes

• Children are being treated as property to work

• Capitalists cared about children welfare

Who was Henry Ford?

• Used vertical integration for Standard Oil

• Invented the Model T automobile

• Owned railroad businesses

• Invented electricity

Which statement best describes the United States economic history during the period 1865-1900?

• Industrialization increased at a rapid rate.

• Factories imported most of their raw materials.

• The lack of immigration tended to decrease industrial production.

• American industrial technology was hindered by the Civil War.

What is a monopoly?

• Group of corporations run by a single board of directors

• Everyone on the line does one job over and over again

• Shares in a business

• Controls all or nearly all the businesses in the industry

Between 1870 and 1910, the changes in output shown in the table were most directly the result of

• Shifts in consumer tastes

• Competition from European industries

• Improvements in technology and worker productivity

• Efforts by industry to meet government production quotas

Define anarchists.

• A person who opposes all forms of organized government

• Inventors

• Businesses owned by investors or shareholders

• Group of corporations run by a single board of directors

“I will build a motor car for the great multitude. It will be large enough for the family but small enough for the individual to run and care for. It will be constructed of the best materials, by the

best men to be hired, after the simplest designs that modern engineering can devise. But it will be so low in price that no man making a good salary will be unable to own one— and enjoy with his family the blessing of hours of pleasure in God's great open spaces.”

— Henry Ford, 1909

Which action is most closely associated with Henry Ford's attempt to realize this vision?

• Providing cars in a variety of models

• Using the assembly line

• Downsizing the labor force

• Creating a business monopoly

What is a trust?

• Shares in the business

• Money

• Group of corporations runs by a single board of directors

• Business that are owned by shareholders or investors

Which economic concept is best illustrated by the cartoon?

• Supply and demand

• Monopoly

• Mercantilism

• Trade

What is capital?

• Workplace where people labor long hours and in poor conditions for low pay

• Shares in the business

• Trusts

• Money