Gilded Age "week 1" Studies weekly

Who are the people working to create goods and services?

• tycoons

• labor force

• proprietor

• resources

Who are the individuals who create and owns a business?

• labor forces

• proprietor

• resources

Which term means an individual that dominates an industry?

• tycoon

• labor force

• proprietor

___________________ is when different resources and industries rely on each other to build a product.

• Interdependence

• labor force

• Rockefeller

An individual who dominates an entire

industry is known as a _____________.

• proprietor

• mogul

• dependent

Check all the answers that apply

Moguls are

also called business ____________, ________,

tycoons, or ___________________.

• magnates

• barons

• captains of industry

• proprietor

After

1869, the _____________ _____________ made

the transportation of resources faster and

less expensive.

• transcontinental railroad

• telegraph

• moguls

• resources

The ___________ also increased the speed of communication and ensured that business decisions could be made in real time.

• telegraph

• railroad

• labor force

Match the following business men to their correct industry

• the

  oil industry

• John D. Rockefeller

• the banking

  industry

• J.P. Morgan

• the U.S.

  steel industry

• Cornelius Vanderbilt

• the

  shipping and railroad industries

• Andrew Carnegie

What is a drawback to monopolies?

• There is no competition to improve.

• It costs less to produce goods.

• Prices do not change rapidly.

• There is a steady supply of a good or service.