Industrialization

What is the belief that the ideas of natural selection and survival of the fittest should be applied to business and the marketplace?

• social darwinism

• gospel of wealth

• Spencer's Theory of Selectivity

• Carnegie's Gospel of Survival

Which of the following was NOT a reason the Industrial Revolution gathered force after 1860?

• An increased supply of capital (money)

• More workers, including immigrants and people moving to cities

• The blessing of many natural resources in the United States

• The development of partnerships as a type of business following the Civil War.

What is the name given to a company that owns or controls all parts of an industry?

• Entrepreneur

• Industrialization

• Innovation

• Monopoly

Which innovation allowed for cities to grow upward with the creation of skyscrapers?

• Bessemer Process

• The Telegraph

• Transcontinental Railroad

• Light Bulb

What is the idea that decisions should be made by private individuals, and government shouldn't interfere with business and the economy?

• laissez faire

• bessemer process

• capitalism

• Social Gospel

Who owned the Standard Oil Company and is considered the wealthiest American of all time?

• John D. Rockefeller

• Andrew Carnegie

• Samuel Gompers

• Thomas Bessemer

Which of the following best describes the main idea of Andrew Carnegie’s Gospel of Wealth?

• Privately held wealth should be handed over to the government to be redistributed.

• Wealthy individuals should use their wealth for social betterment.

• Using wealth to help others is wrong, since it undermines their self-reliance.

• Accumulating large amounts of wealth violates Christian principles.

What innovations and inventions helped transform the American economy from an agricultural to an industrial one in the late 1800s? (choose all that apply)

• The Bessemer process

• The telephone and telegraph

• The radio

• Railroads