Industrialism Review

Which 2 answer choices led to the success of U.S. Industrialism?

• Industrial production fell due to much supply and not enough demand

• Women received equal pay in the workforce

• A large amount of natural resources

• A large workforce fueled industrial production

By the early 1900s the US had shifted from an agricultural nation into the world's leading__________ nation.

• progressive

• Industrial

• military

• Farming

Laissez faire relies on supply and demand, ___________ among businesses, and limits __________ involvement in business and the economy.

• government

• citizen

• collaboration

• competition

How did the telegraph and telephone contribute to economic growth during the Gilded Age(Industrialism)?

• By increasing the availability and speed of nationwide communications

• By allowing taxation of imported goods

• It didn't contribute. Only the railroad did.

• By keeping people in touch along long distances.

Why is the Industrial Era called the Gilded Age?

• For prosperity among the wealthy, but still faced much corruption and poverty

• For the high pay of workers

• For the bad treatment of workers

• For prosperity among the common man

Which one of these is NOT a reason why the populist farmers were struggling

• high debt

• Overproduction

• high cost of machines

• high cost of grain

Which was NOT a factor that helped the US industrialize?

• oil

• coal

• low wages

• railroads

What was the name of the political party that farmers formed to fix their problems?

• Whig

• Populist

• Republican

• democratic

What is NOT an advantage of "Big Business"

• Lower prices due to efficiency

• Competitive advantage over small businesses

• Large numbers of laborers in the workforce

• Higher prices due to inefficiency

Which term matches the Definition: A company owned by people who invest their own money in a share of a business

• Entrepreneur

• Monopoly

• Corporation

• Laissez-Faire