Ch.18

How did Henry Ford’s vision for the car industry differ from that of other automakers?

• Henry Ford wanted to build a car with a gasoline engine.

• Henry Ford wanted to build a car many people could afford.

• Henry Ford wanted to sell more than a million cars overseas.

• Henry Ford wanted to build automobiles in Detroit, Michigan.

What helped Henry Ford built cars quicker and more efficiently than his competitors?

• assembly line

• horizontal integration

• vertical integration

• consolidation

What are the factors of production every business needs to make a product for sale to a consumer or another business. Check ALL that Apply.

• natural materials such as land or oil

• workers to make the product

• capital to make goods and services

What did the steel, lumber, and coal industries have in common?

• They provided the energy that powered trains.

• They lost profits from railroad consolidation.

• They suffered under the Interstate Commerce Act.

• They grew to meet the needs of the railroad industry.

By combining competing companies into one corporation, John D. Rockefeller was able to monopolize the oil industry. What was this strategy called?

• horizontal integration

• mass production

• vertical integration

• business consolidation

What problem occurred when railroads consolidated?

• Railroads became more efficient.

• Railroads set standard business practices.

• Railroads charged higher rates.

• Railroads got more work done with fewer resources.

By purchasing coal mines, warehouses, railroads, and ore ships, Andrew Carnegie took control of the steel industry through a process called _________

• mass production

• business consolidation

• vertical integration

• horizontal integration

How do shareholders help corporations?

• Shareholders provide the money a corporation needs to grow.

• Shareholders are the workers who make products for a corporation.

• Corporations sell shareholders to make money to build their business.

• Corporations give shareholders cash payments from business profits.

When one company or corporation controlled an entire industry, it was called a(n) ___________

• consolidation

• monopoly

• horizontal integration

• vertical integration

Which country did NOT become a territory of the United States following the Spanish-American War?

• Philippines

• Puerto Rico

• Guam

• Alaska