Chapter 13 Review

The theory that discouraged government interference in economic matters was____________.

• Oligopoly

• Social Darwinism

• Collective Bargaining

• The Theory of Evolution

When a company has no competition in selling its product, it is said to have a(n)

• Oligopoly

• Monopoly

• Duopoly

• Vertical Consolidation

A loose arrangement of similar businesses formed to control production and keep prices high is called a(n)

• Monopoly

• Cartel

• Collusion

• Oligopoly

What is the philosophy that advocates public rather than private control of property.

• Social Darwinism

• Socialism

• Capitalism

• Republicanism

When workers negotiate as a group with employers, they are engaging in

• collective bargaining

• socialism

• capitalism

• strike breaking

Employers sometimes replace striking workers with other workers called

• scabs

• Communists

• scars

Who is the inventor who established the American Telephone and Telegraph company?

• Thomas Edison

• Alexander Graham Bell

• Albert Einstein

• Benjamin Franklin

Who developed a new way to make steel?

• Henry Bessemer

• Andrew Carnegie

• John D. Rockefeller

• Thomas Edison

Which industrialist established the Standard Oil Company?

• Andrew Carnegie

• Cornelious Vanderbilt

• John D. Rockefeller

• J.P. Morgan

Which inventor developed the idea of a central power station?

• Alexander Graham Bell

• John D. Rockefeller

• Cornelious Vanderbilt

• Thomas Edison