Big Business- The Industrialists

Andrew Carnegie used which business method to make millions?

• Vertical Integration

• Horizontal Integration

• Trust

• Captain of Industry

Define Vertical integration

• A business strategy where a company controls multiple stages of the supply chain.
• A business strategy where a company focuses on marketing and sales only.
• A business strategy where a company outsources all stages of the supply chain.
• A business strategy where a company controls only one stage of the supply chain.

Define Horizontal Integration

• Expanding business by selling products to different customer segments.
• Expanding business by diversifying into unrelated industries.
• Expanding business by acquiring or merging with companies at the same level of the supply chain or in the same industry.
• Expanding business by acquiring or merging with companies at a different level of the supply chain or in a different industry.

John D. Rockefeller used which business method to make millions?

• horizontal integration
• monopoly
• diversification
• vertical integration

Define Laissez- Faire

• Complete government control over the economy
• High taxes and regulations on businesses
• Equal distribution of wealth among citizens
• Minimal government intervention in the economy

What is a Robber Baron?

• A Robber Baron is a wealthy businessperson or industrialist who gained their wealth through unethical or exploitative practices.
• A Robber Baron is a title given to a person who has achieved great success and wealth through hard work and determination.
• A Robber Baron is a government official who is responsible for enforcing laws against robbery and theft.
• A Robber Baron is a philanthropist who donates a large portion of their wealth to charitable causes.

Define the term "Trust" as a business method.

• The practice of sharing confidential information with competitors
• The act of investing money in a company
• Controlling the production and distribution of a specific product

• The process of delegating tasks to employees

Who is Henry Ford?

• Henry Ford was a renowned scientist.
• Henry Ford was a professional athlete.
• Henry Ford was a famous painter.
• Henry Ford was an American industrialist and a famous Automobile maker.

Define the Second Industrial Revolution

• The Second Industrial Revolution was a period of rapid industrialization and technological advancements in the late 19th and early 20th centuries.
• The Second Industrial Revolution was a period of artistic and cultural renaissance in the late 19th and early 20th centuries.
• The Second Industrial Revolution was a period of agricultural advancements and increased food production in the late 19th and early 20th centuries.
• The Second Industrial Revolution was a period of political upheaval and social unrest in the late 19th and early 20th centuries.

What is JP Morgan known for?

• automobile manufacturer
• multinational investment bank and financial services company
• technology company
• fast food chain