Industrial Revolution Part 2

This business practice where the Meat industry owns all its means of production is known as...

• Horizontal intergration

• Robber Barons

• Vertical integration

The photos demonstrate which new Industrial Revolution concept?

• Monopoly

• Assemble Line

• Horizontal Integration

How does the idea of Laissez-faire protect consumers?

• It allows people to buy whatever they want

• The government can create laws to protect people, like minimum wage.

• Business can make more money using this idea

What new invention will allow us to build skyscrapers and suspension bridges?

• Iron

• The hammer

• Steel

the belief that some people (or businesses) are superior to others and are destined to rule over them is known as?

• Monopoly

• Robber baron

• Social Darwinism

Where were time zones created in the US and then around the world?

• To allow the railroad system to run efficiently and on time from state to state

• To assist the federal government in dealing with state governments

• The big business tycoons felt it was necessary to complete with overseas money markets.

Why were railroads so important during this time?

• they moved goods more quickly and less expensively over greater distances
• they were fun to ride on to go visit family in other states
• people could ride on railroads to get to their jobs in another city

A group of people that work together to own large portions of a company or production

• cartel

• trusts

• elite industrialists

Powerful companies like Standard Oil that had control over the majority of the industry they were involved in and controlled many businesses related to their own can be called

• Labor Unions

• Monopolies

• Urbanization

The innovation that created steel out of iron ore.

• Bessemer Process

• Steel Fabrication

• Carnegie Process