Big Business-Quick

1.) Capital is money used for investment

• True
• False

In the early 20th century, entities like Standard Oil and U.S. Steel were examples of which forms of business organization?

• Conglomerates, Pools, & Trusts

• Sole Proprietorships & Partnerships

• Non-Profit Organizations

• Cooperatives

3.) Rockefeller made his wealth in the oil industry.

• True
• False

4.) Carnegie made his wealth in the steel industry.

• True
• False

5.) JP Morgan was an avid banker.

• True
• False

6.) Ford mastered the assembly line to build automobiles.

• True
• False

7.) Laissez-Faire refers to non-interference in economic workings.

• True
• False

8.) Social Darwinism is the belief that strong businesses would survive while the weak would fail.

• True
• False

9.) Philanthropists give back to society.

• True
• False

10.) Robber Barons refers to those who gained riches at the expense of the poor and working class.

• True
• False