1.4 Industrialism Quiz

Match the following "Business Practices"

• Trust

• One business controls others due to stock ownership

• Holding Company

• One company is owned entirely by stockholders

• Monopoly

• One business buys out their competitors

• Corporation

• Multiple businesses can join forces

Laissez-faire means...

• natural rights
• iron law of wages
• leave alone

• tabula rasa

AN exclusive right granted for an invention, which is a product or a process that provides a new way of doing something.

• Copyright

• Trademark

• Copyleft

• Patent

This event was the "Movement of African Americans north in search of job opportunities." It began around 1917.

_____ is the movement of populations from rural to urban areas.

Redistribution of income (distributing wealth and income)

• Capitalism

• Socialism

• Communism

This is an economic theory and system predicated upon a country's trade and industry being controlled by private owners for profit, rather than by the state.

• Democracy

• Communism

• Capitalism

• Free Market Economy

Property is owned by the state

• Communism
• Capitalism

Match the following

• Captains of Industry

• Buying out similar companies to eliminate competition, approaching "monopoly" status

• Horizontal Integration

• Buying out companies from every phase of production - resources, manufacturing, distributing

• Vertical Integration

• Industry leaders of the Gilded Age whose personal fortunes made them extremely wealthy

Match the following

• Communism

• An econoic ideology where the government makes all economic decisions

• Capitalism

• An economic ideology where all or most economic decisions are based on the free market

• Mixed Market

• A blend of capitalism and communism, often referred to as socialism.