4B. Monopolies and Government’s Response

Large workforce, lower prices, and new innovative ideas are all ​ (a)   examples of big business.

• positive
• negative

Tags

#Gilded Age-Big Business

The ​ (a)   is the economic policies that allow producers to decide what they want to produce and how it should be done with no government interference.

• Free Enterprise System
• Standard Oil Co.
• Philanthropy
• Monopoly

Tags

#Gilded Age-Free Enterprise System

John D. Rockefeller's ​ (a)   held a monopoly since he controlled 90% of the oil refiner

• Standard Oil Co.
• United Steel
• Pacific Railroad
• Light Bulb

Tags

#Gilded Age-Monopolies

#Gilded Age-John D. Rockefeller

Some wealthy entrepreneurs practiced ​ (a)   by donating millions to build universities.

• philanthropy
• Free Enterprise System
• Monopolies
• Corruption

Tags

#Gilded Age-Philanthropy

Monopoly in the steel industry is to ​ (a)  

    As invented the light bulb is to

(b)  

• Andrew Carnegie
• Thomas Edison
• John D. Rockefeller
• Nikola Tesla

Tags

#Gilded Age-electricity (light bulb)

#Gilded Age-Andrew Carnegie

 People who start business are to ​ (a)  

    As opened up a national market is to

(b)  

• entrepreneurs
• Railroad
• Bessemer Process
• Light Bulb
• Homestead Act

Tags

#Gilded Age-Big Business

#Gilded Age-Transcontinental Railroad

The term monopoly refers to when a company - 

• controls all the supply of a product and they have no competition

• fires all of its workers for threatening to strike if their pay isn’t increased

• files a petition with the government to pay their workers below minimum wage

• prevents its workers from transferring to another rival company

Tags

#Gilded Age-Monopolies

 Monopolies are often seen as bad for consumers because -  

• people are unable to shop around different companies for the best price available

• the government shuts down the monopoly and all of its workers lose their jobs

• factory owners only sell their products to people they choose

• state officials require consumers to boycott monopolies

Tags

#Gilded Age-Monopolies

 In response to railroads charging unfair prices to farmers, the government passed the -

(a)  

• Interstate Commerce Act
• Fair Railroad Act
• Farmer Rights Act
• Economic Equality Act

Tags

#Gilded Age-Interstate Commerce Act

The Sherman Antitrust Act was passed to -

• allow workers the right to unionize to help their demands be met by business owners

• prevent companies from having monopolies on goods or services

• help accelerate America’s economy so we would not slip into an economic recession

• stop entrepreneurs from creating more businesses

Tags

#Gilded Age-Sherman Antitrust Act