USHC 4 Day 2 Slide Quiz

If you have a monopoly, you own/control the entire _______.

• A) company

• B) product

• C) industry

• D) market

Why don't philanthropists/Carnegie just give money directly to the poor?

• They believe in long-term solutions like education and job opportunities

• They think the government should handle poverty

• They don't want to help the poor

• They are forced by law to invest in businesses

The government tried to stop monopolies by passing what law?

• The Sherman Antitrust Act

• The Wagner Act

• The Clayton Act

• The Homestead Act

A labor union gets its strength from what?

• Wealthy business owners

• Individual workers

• Collective bargaining and solidarity

• Political parties

What three things are unions fighting for against robber barons (RBs)?

• Shorter work hours, better pay, and safer working conditions

• Corporate control, stock options, and bonuses

• More vacation time, healthcare, and free housing

• Free education, government jobs, and business ownership

John D. Rockefeller made his money in what market, and was smart to set up what he called ________ instead of monopolies?

• A) Oil, Trusts

• B) Steel, Cartels

• C) Railroads, Alliances

• D) Banking, Syndicates

As a business owner, the less _______ you have, the more you can own the market and set prices however you want, which hurts consumers.

• A) Regulation

• B) Competition

• C) Employees

• D) Inventory

Name two significant things that Cornelius Vanderbilt did.

• Built a railroad empire and controlled shipping routes

• Dominated the oil industry and formed trusts

• Created labor unions and expanded manufacturing

• Invested in banking and owned steel companies

J.P. Morgan not only controlled banks, but he eventually purchased what, from whom?

• U.S. Steel, from Andrew Carnegie

• Standard Oil, from John D. Rockefeller

• The railroad industry, from Cornelius Vanderbilt

• The automotive industry, from Henry Ford

"You can't make money; your business dies." This is the idea known as what, and what does it actually mean?

• Monopoly, controlling the entire market

• Social Darwinism, survival of the fittest in business

• Philanthropy, giving back to society

• Antitrust, breaking up large corporations