Big Business Review

Which is an example of a "monopoly?"

• A company that has no competition and can charge whatever price it wants

• A company that attempts to have lower prices than other companies producing the same product

• A company that sells a physical action, like mail delivery or a deli clerk

• A company that provides a wide variety of goods and services

Which of the following did Rockefeller and Carnegie do to create their monopolies? (select ALL that apply)

• Bought transportation/shipping companies that ship their products

• Bought up competing companies

• Opened up new branches of their businesses overseas

• Bought the land, mines, and other resources that obtain the materials for creating their product

Owning a monopoly allows you to do which of the following?

• Allow new businesses to enter the market

• Charge any price you want

• Pay few taxes

• Hire less workers

Carnegie's steel company and Rockefeller's oil company provided what for the US? (select ALL that apply)

• The ability to compete economically with other countries

• Options for customers

• Tax money

• Jobs

Philanthropy is the donation of money to good causes by the rich. What are some things Rockefeller and Carnegie donated to? (select ALL that apply)

• Medical institutions

• The KKK

• Schools and libraries

• Foreign countries

A corporation is a business that sells stock to the public. The shareholders with the most stock (ownership) in a business usually do what?

• Determine prices of the product

• Elect members of a board to hire a CEO and run the company

• Control workers' wages

• Determine changing the product being sold

The Sherman Antitrust Act banned what?

• Selling stock

• Monopolies

• Fast food

• Business competition

Why is competition healthy?

• Businesses will have no incentive to work hard

• Businesses want to win prizes

• Businesses will always raise prices

• Businesses have to stay relevant, creative, and be reasonable with price

Inventions like the telephone, railroad cooling car, light bulb, and assembly line did what for the economy? (select all that apply)

• Created jobs

• Inspired competition

• Connected the US

• Advanced the technological abilities of the US

Who created the assembly line?

• Henry Ford

• Rockefeller

• Carnegie

• JP Morgan