Test 17

the people who work to create goods and services

• labor force

• profit

• proprietor

• monopoly

the act of giving money to worthy causes

• philanthropy

• profit

• monopoly

• interdependence

the person who purchases the resources, builds the facility to create the product, and pays the labor force

• proprietor

• labor force

• profit

• mogul

when different resources and industries rely on each other to build a product

• interdependence

• mogul

• monopoly

• profit

an individual who dominates a business area and controls prices and wages

• mogul

• interdependence

• profit

• monopoly

controls so many of the resources that no other business can enter the market

• monopoly

• interdependence

• mogul

• profit

Who invented the assembly line, which increased production of automobiles and increased profits for proprietors.

• Henry Ford

• J.D. Rockefeller

• Andrew Carnegie

• J.P. Morgan

consumer price minus the cost to produce the goods or service

• profit

• philanthropy

• monopoly

• tycoon

Workers in Andrew Carnegie's steel mills had to work long 12 hour shifts around molten metal and giant, loud saws. True or False?

• True

• False

In which industry was J.D. Rockefeller a tycoon?

• oil

• shipping

• banking

• automobile