Industrialization

In what industry did Andrew Carnegie make his fortune?

• Railroad

• Oil

• Telecommunications

• Steel

Why did children work in factories in the late 1800s?

• the law required children to work at a certain age

• factories kept schools on site

• their jobs included benefits

• families needed the additional income

A strike is often an effective tool/strategy for a union to use because

• it shows that the union is corrupt

• it increases competition

• it is popular with consumers

• it causes the owner to lose money

Who invented the light bulb?

• Samuel Morse

• Elisha Otis

• Thomas Edison

• Gustavis Swift

Cornelius Vanderbilt made his fortune in which industry?

• agriculture

• railroad

• steel

• oil

J.D. Rockefeller made his fortune in what industry?

• steel

• agriculture

• railroad

• oil

A monopoly is when

• there is lots of competition for a product

• the government is in charge of an industry

• one company has complete control of a product or service

• many producers create the same product at the same time

The American economy boomed in the late 1800's because

• the transcontinental railroad allowed goods from Japan to be harder to find

• America had access to many raw materials and lots of workers

• American colonies in Puerto Rico agreed to join the United States

• they were helped by the French and Spanish

Buying up all of your competition in order to gain control over your industry would be an example of

• horizontal integration

• vertical integration

• a public trust

• the Bessemer Process

Rockefeller's control of oil drilling, oil refining, oil shipping and oil sales are an example of

• horizontal integration

• vertical integration

• a public trust

• the Bessemer Process