Rise of “Big Business” Quiz

What are steel mills?

• Goods manufactured using natural resources.

• Manufacturing plants in which iron ore is turned into steel.

• Fabric or cloth material.

• Groups of businesses that focus on making or providing one particular good or service.

What is the definition of natural resources?

• Materials or substances that are created by humans.

• Materials or substances that are found in nature and can be used for economic gain.

• Goods and services produced by a country's economy.

• Centers where products, goods, and services are sold.

What is a specialized industry?

• Goods manufactured using natural resources.

• Manufacturing plants in which iron ore is turned into steel.

• Fabric or cloth material.

• Groups of businesses that focus on making or providing one particular good or service.

What is a rural community?

• Communities of low or sparse population.

• Centers where products, goods, and services are sold.

• An economy based in the growing and selling of cash crops for a profit.

• The raw material needed in order to create steel.

Who owned the oil refining monopoly called 'Standard Oil'?

• John D. Rockefeller

• Andrew Carnegie

• Cornelius Vanderbilt

• None of the above

What is low-cost production?

• Providing a product or service at the lowest cost to the producer possible.

• Raw materials occurring naturally (not man-made).

• The production of goods or services by hand or machine.

• Goods manufactured using natural resources.

What are financial resources?

• Goods manufactured using natural resources.

• People, goods, capital, and materials necessary to produce products or provide a service.

• Capital or money needed to provide a product or service.

• Centers where products, goods, and services are sold.

What is a monopoly?

• Having control of a vast majority of a single industry.

• The act of donating one’s own money to charities and the community.

• The process by which manual human labor is replaced by machines.

• Groups of businesses that focus on making or providing one particular good or service.

What is philanthropy?

• Having control of a vast majority of a single industry.

• The act of donating one’s own money to charities and the community.

• The process by which manual human labor is replaced by machines.

• Groups of businesses that focus on making or providing one particular good or service.

What is mechanization?

• Having control of a vast majority of a single industry.

• The act of donating one’s own money to charities and the community.

• The process by which manual human labor is replaced by machines.

• Groups of businesses that focus on making or providing one particular good or service.