USHC 4 Day 2 Slides Quiz B

In a monopoly, one business or entity controls the entire ________.

• A) workforce

• B) market

• C) government

• D) economy

What is the main reason philanthropists often invest in education and community programs rather than giving directly to the poor?

• They want to create lasting change through opportunities

• They believe poverty is the government's responsibility

• They want to avoid direct involvement with poverty

• They are required by law to invest in businesses

Which law was passed by the government to prevent the formation of monopolies?

• The Sherman Antitrust Act

• The Wagner Act

• The Clayton Antitrust Act

• The Homestead Act

Labor unions gain power through which of the following strategies?

• Support from business elites

• Unity and collective bargaining

• Individual workers' contributions

• Aligning with political parties

What were the most common demands made by unions in their fight against powerful industrialists?

• Shorter hours, higher wages, and safer workplaces

• Business ownership, stock shares, and corporate control

• Yellow Dog Contracts

• Government subsides

In which industry did John D. Rockefeller make his fortune, and what did he establish instead of monopolies?

• A) Oil, Trusts

• B) Railroads, Unions

• C) Steel, Cartels

• D) Banking, Corporations

What were two notable accomplishments of Cornelius Vanderbilt?

• A) Built a railroad empire and controlled key shipping routes

• B) Dominated the oil industry and created trusts

• C) Founded labor unions and expanded steel production

• D) Invested in banking and revolutionized the steel industry

J.P. Morgan expanded his influence by acquiring what company from whom?

Match the following industrial leaders with their respective industries:

• Cornelius Vanderbilt

• Railroad companies, from Cornelius Vanderbilt

• Andrew Carnegie

• Standard Oil, from John D. Rockefeller

• John D. Rockefeller

• U.S. Steel, from Andrew Carnegie

• Henry Ford

• Automobile manufacturing, from Henry Ford

What business principle is described by the phrase 'only the strongest survive' in the market?

• Monopoly, total control over an industry

• Social Darwinism, competition leads to survival of the fittest

• Philanthropy, supporting social welfare programs

• Antitrust, breaking up companies with too much power