Industrial Expansion Quiz Honors

Which Captain of Industry is known for making their money in the railroad industry?

• Cornelius Vanderbilt

• John Rockefeller

• Henry Ford

• Andrew Carnegie

What is the term for gaining control of all the steps used to change raw materials into finished products?

• Horizontal Integration

• Vertical Integration

In a corporation, who owns the business?

• It is privately owned by 1 person.

• It is owned by investors.

• It is owned by only 2 people.

• It is owned by at least 3 people.

In a horizontally integrated business, which of the following is not a way to reduce competition?

• Have a sale or cut your prices.

• Make an offer to buy out your competitors.

• Own every step of the process of making your product.

What was a major challenge that architects of the first transcontinental railroad faced?

• Rough terrain

• Attacks from Native Americans

• Not enough workers

• All of the above

A business organized as a corporation is owned by its…

• Customers

• Employees

• Entrepreneurs

• Stockholders

Which of these technologies did Henry Ford use to mass-produce automobiles?

• Bessemer process

• Assembly line

• Electric lighting

• Oil Refining

Which of the following was NOT a significant innovation in America during the 1800s

• Oil drilling and refining

• The commercial telephone line

• The first steam engine

• The powered airplane

In the economic system of capitalism, factories, equipment, and other means of production are

• Privately owned

• Controlled by the government

• Controlled by a small group of elites

• Publicly owned.

Which of these generalizations was NOT true of factory workers in the late 1800s?

• They worked six days a week for ten or more hours a day.

•  They performed repetitive tasks in hazardous environments.

• They put up with poor working conditions to keep their jobs.

• They relied on political bosses to improve their wages and hours.