Economic Transformation in the Gilded Age

What position did the United States hold in terms of industrial economy by the 1890s?

• 2nd place

• 5th largest

• 1st place

• 3rd largest

Who was known for using vertical integration in their business model?

• J.P. Morgan

• John D. Rockefeller

• Andrew Carnegie

• Henry Ford

What percentage of the oil supply did Standard Oil control by the end of the 19th Century?

• 85%

• 75%

• 95%

• 100%

What was a major consequence of the rise of industrial capitalism?

• Increase in the number of farmers

• Decrease in the standard of living

• Decrease in material comforts

• Workers organizing unions