5.2 Review Quiz - Big Buisness

The Gilded Age refers to a period in the U.S when...

• Andrew Carnegie was in control of the steel business.

• A thin layer of success and prosperity covered up a large amount of poverty and corruption.

• Workers were finally paid fair wages.

• The lower class gained access to a large amount of wealth.

Which term refers to Charles Darwin's theory of "survival of the fittest" that was applied to American society?

• Social Evolution

• Industrialization

• Gilded Age

• Social Darwinism

What led to the rise in industry?

• Greater availability of natural resources such as coal, iron, timber, etc.

• Protective tariffs on foreign-made products.

• A smaller workforce due to limited immigration.

• Faster production made possible by the Transcontinental Railroad.

What was a positive effect of industrialization?

• Increase in consumer goods

• Improved standard of living for the middle class

• More job opportunities

• All of the above

According to the image above, the Gilded Age can be described as a time when

• The lower class advocated for working rights and gained a fair wage.

• Industrialization led to increased job opportunities for the lower class.

• Corrupt business owners had control of wealth and production while laborers were impoverished and underpaid.

• Big business owners had jousting matches with the lower class.

Who utilized the assembly line to mass produce automobiles?

• Andrew Carnegie

• John D. Rockefeller

• J.P Morgan

• Henry Ford

Business tycoons such as Vanderbilt and Carnegie took control over all aspects of their industries in order to eliminate competition. This resulted in

• Industrialization

• Monopolies and trusts

• Capitalism

• Strict government supervision

This term refers to big business owners who built their fortunes by using sketchy business practices such as using too many natural resources and mistreating their workers.

• Captains of Industry

• Corrupt Crooks

• Robber Barons

• Industrialization Giants

When a business owner or company buys out multiple factors of production in order to control an entire industry is the practice of:

• Vertical Integration

• Horizontal Integration

• Side to Side Integration

• Top-Down Integration

The Sherman Anti-Trust Act of 1890 made ________ and ________ illegal, but was rarely enforced.

• vertical integration and horizontal integration

• unions and strikes

• monopolies and trusts

• telephones and light bulbs