Captains of Industry Quiz

What did Cornelius Vanderbilt do to gain control of most of the railroad industry?

• He created a partnership with other railroad companies.

• He lowered the rates on his railroad to gain more business.

• He bought all the competing railroad companies' stocks.

• He focused solely on expanding his own railroad lines.

Which of the following actions is NOT associated with Cornelius Vanderbilt as a Captain of Industry?

• Donating money to colleges/universities.

• Helping develop Grand Central Station.

• Secret rebates given to “best” customers.

• Contributing to L.I. mansions during the “Gilded Age”.

What is one reason why Andrew Carnegie was seen as a Captain of Industry?

• He created a monopoly of the steel industry.

• He increased production of steel through the Bessemer Process.

• He refused to donate money to educational facilities.

• He consolidated smaller steel mills to control the industry.

What does the term "vertical integration" refer to in the context of Andrew Carnegie's business strategy?

• Merging with companies in unrelated industries to diversify the business.

• Controlling all steps of the industry to drive out competition.

• Expanding the business overseas to control international markets.

• Investing in vertical construction projects to enhance infrastructure.

Which of the following was a philanthropic action taken by Andrew Carnegie?

• He donated money to create the Carnegie Steel Company.

• He funded thousands of libraries throughout the U.S. and United Kingdom.

• He monopolized the steel industry to increase prices.

• He vertically integrated all steps of the steel industry for personal gain.

What was the first major resource discovered in the United States in 1859 that brought hundreds of prospectors to western Pennsylvania?

• Gold

• Coal

• Oil

• Natural Gas

What did John D. Rockefeller build to purify the oil so that it could be used more effectively?

• A coal refinery

• An oil pipeline

• An oil refinery

• A natural gas plant

Which company did John D. Rockefeller create that became a dominant player in the oil industry?

• ExxonMobil

• Chevron

• Standard Oil Company

• BP

How did John D. Rockefeller use his wealth to improve his public image?

• By investing in the railroad industry

• Through philanthropy and charitable donations

• By lowering the price of oil

• By expanding his oil refineries

What major action did J.P. Morgan take to help rescue the nation's economy from financial panic?

• He created a new currency

• He bought out troubled corporations

• He lowered taxes

• He established a new government