Growth of Industry Review

Which economic systems allows individuals and corporations to own/control the means of production (factories)?

• Communism

• Socialism

• Capitalism

What is a grant by the federal government that gives the inventor the exclusive right to develop, use, and sell an invention for a set time period?

• Bessemer process

• Patent

Which does NOT belong on a list of thing that helped make it easier for entrepreneurs (business owners) to get bigger?

• Free enterprise

• A strong legal system

• Bessemer process

When one company has total control of an entire market (like Microsoft or Facebook/Meta), it becomes a

• Monopoly

• Pool

• Holding Company

An economic system in which the government owns the means of production.

• Capitalism

• Market

• Socialism

Why did business owners and employers typically oppose (against) the growing labor movement?

• They saw it as a threat to their businesses and profits

• They saw it as an opportunity to hire more qualified workers

• They saw it as a support system for their investments

Karl Marx believed that the American economic system would create a "class struggle" that would lead to workers revolting and overthrowing the government. Which economic system is this idea the closest to?

• Capitalism

• Communism

• Socialism

Which of the following does NOT belong on the list of factors that created benefits for America but also created some social problems?

• Industrialization

• Immigration

• Progressivism

Who pushed for laws that improved living conditions, public health and schools? They favored the government overseeing big businesses.

• Robber barons

• Industrialists

• Progressives

What did the 17th amendment do?

• Advocated an 8hr workday, with required overtime pay

• Called for the direct election of Senators

• Allowed the indirect election of House members