Big Business

What is owning all the businesses in a particular field?

• Vertical Integration

• Horizontal Integration

• Trust

• Antitrust

John D. Rockefeller practiced horizontal integration by buying

• wildcatters

• oil refining business

• steel businesses

• pipelines and tankers

Trusts sought to increase their profits by eliminating

• competition

• monopolies

• rebates

• philanthropy

Philanthropists

• gave millions to charity

• combined to drive small industries out of business

• criticized unfair business practices

• protested laissez faire capitalism

The Sherman Antitrust Act was passed to

• make monopolies illegal

• encourage philanthropy

• regulate the NY Stock Exchange

• control the boom and bust cycle

Owning every step in the manufacturing process is

• trust

• monopoly

• vertical integration

• horizontal integration

Andrew Carnegie practiced vertical integration by buying

• steel factories

• shares of stock

• mines, coal fields, and railroads

• public libraries

Business that sells portions of their ownership - stocks

• Corporation

• Company

• Vertical Integration

• Association

The Sherman Anti-Trust Act made it illegal to create monopolies that restrained trade.

• True

• False

The idea that the strongest societies/economies survive in a free market economy is called _________.

• Social Darwinism

• Tolstoy Telemetry

• Supply-Side Economics

• Socialism