The Rise of Big Businesses Quiz

Who became the richest man to have ever lived during the gilded age?

• Andrew Carnegie

• John D. Rockefeller

• Thomas Jefferson

• Mark Twain

What term was coined by Mark Twain to describe the economic boom and rapid industrialization in America?

• Economic Renaissance

• Gilded Age

• Industrial Revolution

• Golden Age

In which year was the transcontinental railroad completed, unifying the country from east to west for the first time?

• 1865

• 1876

• 1889

• 1869

What was the name of the company formed by John D. Rockefeller in 1870?

• BP

• Chevron

• Exxon Mobil

• Standard Oil

Which industrialist controlled 60% of America's steel industry through vertical integration?

• Thomas Edison

• Henry Ford

• Andrew Carnegie

• John D. Rockefeller

What was the technique first mastered by Rockefeller that involved buying out or controlling all competitors to have a virtual monopoly on the product?

• Vertical Integration

• Horizontal Integration

• Social Darwinism

• Laissez-faire

What theory argued that the wealthy deserved their riches because they worked hard for it, while the poor deserved their poverty?

• Capitalism

• Communism

• Social Darwinism

• Laissez-faire

How much money did Rockefeller eventually give away for philanthropy?

• $100 million

• $250 million

• $550 million

• $1 billion

In which year was the standard oil company broken up for being a monopoly into 34 different companies?

• 1911

• 1901

• 1931

• 1921

Which of the following companies was NOT one of the companies formed after the breakup of standard oil?

• BP

• Chevron

• General Electric

• Exxon Mobil