Growth of Big Business

During the late 1800s, the U.S. steel industry directly benefited from

• the expansion of railroads.

• the passage of Jim Crow laws.

• the construction of the Panama Canal.

• the adoption of progressive political reforms.

In which industry did Andrew Carnegie earn his fortune?

• steel

• railroad

• gold

• oil

Which industry did Rockefeller dominate?

• oil

• steel

• communication

• railroad

A company that eliminates its competition and controls an industry

• corporation

• trust

• business cycle

• monopoly

What were industrial leaders (Like Rockefeller in Oil Industry and Carnegie in Steel Industry) able to do by creating monopolies and establishing trusts?

• secured the election of William McKinley as president in 1897.
• make vast amounts of wealth by limiting competition, cutting production costs, and controlling prices.   
• secured passage of the Sixteenth Amendment. 
• caused the Panic of 1893

In the 19th century, John D. Rockefeller was MOST associated with what corporation?

• Standard Oil
• American Telephone and Telegraph
• U.S. Steel 
• General Motors Corporation

Rockefeller combined his many companies to create Standard Oil Trust forming a monopoly (eliminate competition) on the oil market which

• allowed him to set the price for oil, but hurt the consumer who paid a higher price.
• did not affect him, the consumer, or the price of oil
• led to massive riots across the US that forced Rockefeller to sell the Standard Oil Trust to the government
• made the price of oil drop because consumers had many options to choose from for oil

What were industrial leaders (Like Rockefeller in Oil Industry and Carnegie in Steel Industry) able to do by creating monopolies and establishing trusts?

• secured the election of William McKinley as president in 1897.
• make vast amounts of wealth by limiting competition, cutting production costs, and controlling prices.   
• secured passage of the Sixteenth Amendment. 
• caused the Panic of 1893

Rockefeller combined his many companies to create Standard Oil Trust forming a monopoly (eliminate competition) on the oil market which

• allowed him to set the price for oil, but hurt the consumer who paid a higher price.
• did not affect him, the consumer, or the price of oil
• led to massive riots across the US that forced Rockefeller to sell the Standard Oil Trust to the government
• made the price of oil drop because consumers had many options to choose from for oil

Andrew Carnegie had a monopoly (competition has been eliminated in the market) in which of the following industries:

• Steel 
• Steamships
• Railroads
• Oil