Unit 2, Topic 1 Quiz

Which of the the following were negative consequences of increased immigration?

• Crowded cities and overpopulation

• Growth of the number of skilled workers in factories

• Rise in anti-immigrant prejudice and violence

• Legal segregation of immigrants and native Americans

• Increase in the number of government provided social services

Shifting to mass production from handmade products caused what THREE things to happen?

• Increased number of jobs

• Increased production of varied products

• Allowed for many of the same product to be produced quickly

• Ability to increase supply and lower prices

• Decreased the number of jobs held by humans

Match the following type of economy with the description:

• Laissez-faire

• Government controls all aspects of business

• Traditional

• Business owners have total freedom in running their business with no government oversight

• Mixed

• Uses bartering instead of money and relies heavily on agriculture, hunting, and fishing

• Command

• Business owners control their business but there is also government oversight and laws to protect workers and consumers

Which statement BEST defines capitalism?

• An economic system where individuals and businesses own and operate resources and industries

• An economic system where individuals control industry and the government controls public services

• An economic system where the government owns and operates resources and industries

• An economic system where the government controls business opertations

Match the following terms with their correct definition:

• Producer

• The amount of goods and services that people are willing to buy

• Consumer

• A person who purchases goods and services based on wants and needs

• Supply

• A person who supplies goods and services for consumers to puchase and use

• Demand

• The total amount of goods and services that are available

What were TWO disadvantages of living in growing urban areas?

• They lacked fresh air or sunlight

• They lacked sufficient plumbing

• Housing was expensive to build and maintain

• Increased access to social and cultural activities

• Farm jobs were abundant

The increased number of railroads being built in the United States lead to the following consequences: (Choose 2)

• They encouraged local lines

• They decreased competition

• The opened new markets for goods

• They made transportation faster

• They conserved Native lands

The goal of incorporating "vertical integration" in your business was:

• Paying employees higher wages

• To control an entire industry

• To avoid paying federal taxes

• To own all levels of production

Which of the following statements is true about Cornelius Vanderbilt?

• built one of the largest steel mills in the northeast region

• offered rail service from New York to Chicago

• he controlled 90% of oil i the United States

• kept costs low by owning mines and mills in Pennsylvania

Which of the following statements is true about John Rockefeller?

• owned about 90 percent of the oil refineries in the United States

• established one of the most influential banks in the United States

• provided necessary capital to grow fledgling industries

• offered rail service from New York to Chicago