TCI Lesson 25: The Rise of Industry

A company that controls all production and sales of a product is called a

• Laissez-Faire

• Business Giant

• Corporation

• Monopoly

During the Gilded Age many capitalists lived like royalty while

• workers lived in poverty

• workers were beginning to enter the middle class

• workers were given huge raises

• workers were sent to unpaid labor camps

Why are monopolies bad for the economy?

• They do not make improvements to products without competition

• They do not have fair prices because there is no competition

• Both A and B

• None of the above

When factories and production booms, what else grows?

• Higher prices on goods and services

• Urban houses and cities

• Monopolies

• Entrepreneurs

What were working conditions like during the Industrial Revolution? Mark all that apply.

• Safe

• Low wages

• Children working

• Fire danger

A trust is a number of corporations grouped together under one

board of directors.

• True

• False

What was formed to provide workers better working conditions and better pay?

• monopolies

• trusts

• unions

Overcrowding in the cities led to

• lower crime rate

• the building of skyscrapers

• more government buildings

An entrepreneur is someone who

• creates a business to produce goods or services

• works in a city factory

• works for the government

Andrew Carnegie was known for

• his success in the oil industry

• his success with labor unions

• his success in the steel industry