US-Industrialization

Andrew Carnegie and John D. Rockefeller developed business practices that let them take total control of a specific industry. This practice was called ______________.

• monopoly

• technology

• labor unions

• urbanization

The Industrial Revolution describes a time when

• people rejected socialism and began calling for capitalism.
• people began to use the scientific method to find answers to their questions.
• work done by machines in factories replaced work done by hand.
• industrialized nations created overseas colonies.

Which of the following best describes the diagram? All steps are performed by a single company.

• Horizontal integration

• Vertical integration

• Trust Company

• Holding company

Laissez-faire is a French word that means “to let do.” How did laissez-faire politics relate to business principles during the Industrial Revolution and Gilded Age?

• the government made no policies to regulate business principles 

• labor union membership was outlawed

• the government was allowed to implement legislation on businesses as it pleased

• employees could join as many labor unions as they liked

 One reason John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan were sometimes called robber barons was because they

• stole money from the federal government

• used ruthless business tactics against their competitors

• made unnecessarily risky investments

• robbed from the rich to give to the poor

This philosophy was the belief that natural competition weeds out the weak and the strong will survive.

• Social Pruning

• The Purge

• Social Darwinism

• Social Security

This monopolistic practice involves buying up similar companies to reduce competition.

• Horizontal Integration

• Vertical Integration

• Diagonal Integration

• Hexagonal Integration

This monopolistic business practice involves buying up companies that produce the raw supplies for a product, ultimately creating cheaper prices that can undercut other competitors.

• Horizontal integration

• Vertical Integration

• Diagonal Integration

• Octagonal Integration

Which characteristics of the Industrial Revolution contributed to the rise of labor unions?

• The influence of political machines on company towns.

• The results of mass production on agricultural prices.

• The working conditions found in many factories.

• The competition created by immigrant workers.

Why did labor unions first form?

• To protect the rights of business owners

• To protect the rights of workers

• To protect the rights of customers

• All of the above