US H2 Assessment 2.1 Review

Which natural resource was essential for powering steam engines?

• Coal

• Timber

• Steel

• Oil

Which natural resource was in abundance throughout the entire United States of America?

(Hint: often used for building railways)

The population grew in America which allowed industrialization to occur. What else allowed industrialization to occur?

• Electricity

• Ban on immigration

• Better living standards

• Higher taxes

What does the term 'Laissez-Faire' literally mean?

• Allow to do

• Free market

• Government control

• Economic freedom

Tags

Understanding

In economics, Laissez-Faire describes a market with ___ government interference.

Tags

Applying

Which of the following best describes the concept of Laissez-Faire in economics?

• A free market with minimal government interference

• A market with strict government regulations

• A planned economy

• A monopolistic market

Tags

Applying

When one industry in controlled by one business or person, with little to no competition, we call this a what?

Why was the US Government concerned about monopolies?

• Powerful families controlled the economy

• There was little to no competition in the economy.

• There was healthy competition between businesses, which lowered costs for everyday people.

• The price of goods and services could be raised easily.

Which US President wanted the government to regulate monopolies?

• Ulysses Grant

• Franklin D. Roosevelt

• Arthur Cleveland

• Theodore Roosevelt

Which clause of the U.S. Constitution grants Congress the power to regulate commerce with foreign nations, among states, and with Indian tribes?

• Commerce Clause

• Supremacy Clause

• Necessary and Proper Clause

• Equal Protection Clause

Tags

Understanding