Industrialization Unit Quiz

A person who invests their own money or capital into a business, taking a financial risk to potentially earn greater profits is called an ___________.

• Entrepreneur

• Robber baron

• Inventor

In a _________________ economy, the government does not interfere with the nation's business practices.

• Marxist

• Socialist

• Laissez-faire

Timber, copper, iron ore, coal, and petroleum:

• Natural resources abundant (available in great supply) in 19th century America

• Natural resources unavailable in 19th century America

• Man-made industrial products

In the late 19th century, the US had many workers available as a result of:

• Slavery

• Immigration from Europe and Asia, and natural population increases from large families

• South American immigrants

Which of the following was one of Thomas Edison's inventions?

• Air-brakes for railroads

• Light bulb

• Telephone

How did refrigerated railroad cars effect the food industry?

• Made trains faster

• Kept cows more comfortable on long train rides

• Kept meat, dairy, and produce fresh during shipping

Corporations are owned by investors who buy shares of the company called: _________.

• bytes

• hedge funds

• stocks

Total control of an industry by eliminating any competition for business=

• Monopoly

• Arbitration

• Deflation

New business organizations that were created to avoid violating anti-monopoly laws:

• Stocks and bonds

• Holding companies and trusts

• Vertical and horizontal integration

This philosophy, adapted from a scientific theory, suggested that those who were successful and wealthy were genetically superior; "survival of the fittest."

• Laissez faire

• Social Darwinism

• Gospel of Wealth