Rise of Industrial Capitalism in America Quiz

What term is used to describe the period of American history known for the rise of large corporations and trusts?

• The Golden Age

• The Industrial Revolution

• The Progressive Era

• The Gilded Age

Which industry was dominated by John D. Rockefeller's company, Standard Oil, through the practice of horizontal integration?

• Oil

• Textile

• Railroad

• Steel

What practice involves a company acquiring all the complementary industries that support its business, as demonstrated by Andrew Carnegie in the steel industry?

• Market consolidation

• Vertical integration

• Horizontal integration

• Industry expansion

What was the primary reason for the proliferation of laissez faire government policies during the Gilded Age?

• Lack of understanding of business practices

• Pressure from industry leaders

• Public demand for minimal government intervention

• Government belief in free enterprise

Which group of individuals were heavily relied upon as underpaid laborers during the Gilded Age?

• European immigrants

• Asian immigrants

• African Americans

• Native Americans

What economic theory was applied to justify the concentration of wealth in the hands of the fittest individuals, as practiced by industry leaders during the Gilded Age?

• Social Darwinism

• Communism

• Capitalism

• Socialism

What term is used to refer to the positive view of industry leaders such as Rockefeller and Carnegie?

• Captains of Industry

• Masters of Industry

• Titans of Business

• Leaders of Commerce

What was Andrew Carnegie's argument for the duty of those with extraordinary wealth, as described in the text?

• Generous acts of philanthropy

• Invest in foreign markets

• Supporting government regulation

• Hoarding wealth for personal gain