Second Industrial Revolution: Economics

Four Factors of Production

• Land

  Labor

  Capital

  Entrepreneurs

• Land

  Labor

  Railroads

  Resouces

• Railroads

  Coal

  Legislation

  Cotton

• Labor

  Immigrants

  Urbanization

  Railroads

Which of the following is an example of natural resources?

• Iron Ore

• Workers

• Business Owners

• Moneya

Factor of Production: Labor

• Business Owners

• Workers

• Machines

• Money

After the Civil War the population of America

• shifted East

• Declined

• Increased

• Shifted South

Which of the following fact is tied to Labor?

• Railroads crisscrossed the nation.

• The U.S. population tripled in the years after the Civil War.

• Native Americans were forced onto Reserverations.

• Entrepreneurs were investing money into machinery.

Which of the following was a key invention as part of the Gilded Age in America?

• The Lightbulb

• The Cotton Gin

• Rifling

• The Railroad

Which situation brought about the rapid growth of industry between 1865 and 1900?

• high worker morale resulting from good wages and working conditions

• availability of capital [money] to invest in factories, railroads and infrastructure

• establishment of western reservations for Native American Indians

• decline in the number of people attending schools

One factor that furthered industrialization in the United States between 1865 and 1900 was best described by which of the following?

• Development of the sharecropping system in the southern United States

• The rapid expansion of the American railroad network.

• American intervention in foreign wars and conflicts.

• The repeal of the Dawes Act and the subsequent return of Native-American lands.

The term business monopoly is best summarized by which of the following statements?

• It is the most common form of business in the United States.

• It encourages government control of the means of production and industry.

• It is an agreement between partners to manage a corporation.

• It is a company that controls or dominates an industry.

Mark Twain labeled the late 1800s in the United States the “Gilded Age” to describe which of the following?

• The abolition of slavery

• The absence of international conflicts

• The extremes of wealth and poverty present in American society

• The achievements of the labor movement in its efforts to elevate the American worker