Industrialization

What do you call a shift from an agrarian to business economy,

such as the transformation of the US in the late 19th century?

• globalization
• industrialization
• urbanization
• modernization

Who is JP Morgan?

• French artist and sculptor.

• American financier and banker

• Japanese scientist and inventor.

• British politician and statesman.

Who is Andrew Carnegie?

• Andrew Carnegie was a renowned French artist known for his impressionist paintings.

• Andrew Carnegie was a famous American inventor who revolutionized the telecommunications industry.

• Andrew Carnegie was a British politician who served as Prime Minister in the early 20th century.

• Andrew Carnegie was a Scottish-American industrialist and philanthropist who led the expansion of the American steel industry in the late 19th century.

Who is JD Rockefeller?

• An American oil industry business magnate

• A famous Hollywood actor
• A renowned scientist
• A popular American musician

What is vertical integration?

• A business strategy where a company controls multiple stages of the supply chain.

• A business strategy where a company focuses on one stage of the supply chain.

• A business strategy where a company outsources all stages of the supply chain.

• A business strategy where a company only controls the final stage of the supply chain.

What is horizontal integration?

• Expansion of operations by acquiring or merging with companies in different industries.

• Expansion of operations by selling off assets to other companies in the same industry.

• Expansion of operations by acquiring or merging with similar companies in the same industry.

• Expansion of operations by acquiring or merging with different companies in the same industry.

The Bessemer Process revolutionized building materials, by converting iron into _____.

What is a monopoly?

• A monopoly is a type of board game where players buy and trade properties to accumulate wealth.

• A monopoly is a government regulation that prevents companies from merging or acquiring other companies.

• A monopoly is a market structure in which multiple companies compete for control over a particular product or service.

• A monopoly is a market structure in which a single company or entity has exclusive control over a particular product or service, allowing them to dominate the market and eliminate competition.

What is a cartel?

• A cartel is a government agency that regulates market activities.

• A cartel is a group of independent market participants who work together to promote fair competition.

• A cartel is a type of financial investment that guarantees high returns.

• A cartel is a group of independent market participants who collude with each other to manipulate the market in order to maximize their profits.

What is a command economy?

• An economic system in which the government controls and directs all economic activities.
• An economic system in which businesses control and direct all economic activities.
• An economic system in which supply and demand determine economic activities.
• An economic system in which individuals have complete control over economic activities.