Lesson 13 & 14

Limited government involvement

• Horizontal Integration

• Laissez-faire

• Vertical Integration

• Social Darwinism

When 1 company dominates a particular industry it is known as a____

• Trust

• command economy

• Conglomerate

• Monopoly

Which of the following are characteristics on a capitalist economy

• lots of competition

• Prices are set by the government

• limited government involvement

• wide variety of consumer goods available

• shortages are frequent

created with the goal of preventing businesses from eliminating competition

• Trusts

• Horizontal Organization

• Laissez-faire policies

• Sherman Antitrust Act

Which of the following was NOT an issue unions fought for at the turn of the century

• Pension (retirement) plans

• wages

• hours

• conditions

when management and labor representatives negotiate wages and other conditions of employment

• strike

• collective bargaining

• arbitration

• scabbing

Why were unions often unsuccessful at the turn of the century

• not enough members

• they were not well organized

• businesses offered good pay and working conditions so they were not needed

• associated with radical ideas and violence

Which union only allowed skilled workers to join

• Knights of Labor

• American Federation of Labor (AFL)

• Industrial Workers of the World (IWW)

• The Teamsters

Which invention around the turn of the century do you believe had the biggest impact on society

• Oil Drill

• Telephone

• Light bulb

• Assembly Line

• Bessemer Process

Evidence (2) to support wealthy industrialist being remembered as Robber Barons