Assessment: The Age of Innovation and Industry

Which of the following BEST describes a negative aspect of industrialism depicted in the image below?

• A. Work in factories was repetitive and often dangerous.

• B. A limited number of factory owners became millionaires.

• C. There were more factory workers than agricultural workers.

• D. The number of factories built between 1880 and 1890 increased steadily.

A business organized as a corporation is owned by its

• A. customers.

• B. employees.

• C. entrepreneurs.

• D. stockholders.

Which term BEST describes a company that completely dominates a particular industry?

• A. competitor

• B. corporation

• C. foundation

• D. monopoly

Which of these technologies did Henry Ford use to mass-produce automobiles?

• A. assembly line

• B. Bessemer process

• C. electric lighting

• D. oil refining

Capitalism is an economic system in which

• A. companies use donations to fund their production.

• B. businesses are owned exclusively by the government.

• C. factories and other means of production are privately owned.

• D. companies trade with other companies to produce their goods.

Which of the following was NOT a significant innovation in America during the 1800s?

• A. oil drilling and refining

• B. the commercial telephone line

• C. the first steam engine

• D. the powered airplane

Why is Andrew Carnegie considered a philanthropist?

• A. He used his wealth to benefit society.

• B. He funded many big businesses.

• C. He merged with other businesses.

• D. He helped eliminate monopolies.

What revolutionary process depicted in the image below transformed how iron was turned into steel?

• A. the Stanley Process

• B. oil wells

• C. the Bessemer process

• D. railroad construction

The business strategy of____________ integration involves joining together many firms from the same industry.

• expansion

• horizontal

• mass

• vertical

Why was the Sherman Antitrust Act unsuccessful at breaking up trusts and monopolies?

• A. The vague language of the law allowed big business to beat it in court.

• B. The law was designed only to go after private business, leaving public companies untouched.

• C. Although the law was in place, many government officials were unwilling to carry it out.

• D. all of the above