Robber Barons Quiz 1/26

What industry was John D. Rockefeller known for dominating?

• Agriculture

• Textiles

• Steel

• Oil

How did John D. Rockefeller gain control of the oil industry?

• Winning a government lottery for oil rights

• Buying out all the competition through fair business practices

• Forming a monopoly through his company, Standard Oil

• Inheriting the industry from his father

What was Andrew Carnegie's primary business interest?

• Steel industry

• Automobile industry

• Textile industry

• Oil industry

How did Andrew Carnegie become one of the richest men in the world?

• Through a successful career as a professional athlete

• Through investments in the steel industry and business acumen

• By working as a farmer and saving money

• Winning the lottery and inheriting a fortune

What was J.P. Morgan's role in the banking industry?

• Invented the first credit card

• Prominent figure in consolidating and restructuring the American railroad system and leadership in major corporations

• Pioneered the concept of microfinancing

• Founded the first online banking platform

How did J.P. Morgan consolidate various industries under his control?

• By starting a trade war

• Through mergers and acquisitions

• By winning a lawsuit against each industry

• Through peaceful negotiations

What industry was Cornelius Vanderbilt heavily involved in?

• Railroad

• Technology

• Agriculture

• Oil

How did Cornelius Vanderbilt expand his wealth and influence?

• Investments in railroads and shipping, and strategic business acquisitions

• Inheritance from family members

• Selling handmade crafts

• Winning the lottery

What is a monopoly and how did the robber barons use it to their advantage?

• Robber barons used monopolies to promote fair competition and lower prices

• Robber barons used monopolies to eliminate competition, control prices, and maximize their profits.

• Monopolies were used by robber barons to benefit the consumers and the economy

• Robber barons used monopolies to encourage innovation and diversity in the market

What are some characteristics of the robber barons and their impact on the economy?

• Promoting fair competition and equal economic opportunities

• Reducing economic inequality and promoting wealth distribution

• Monopolizing industries, driving out competition, and creating vast economic inequality

• Supporting small businesses and local economies