Quiz on A Changing Society: Industrialization

What is a patent?

• A document that gives an individual the sole right to own and sell an invention

• A process of producing goods in large quantities

• A line of workers where the product comes to the workers

• A theory about survival of the fittest in business

Who received a patent for the invention of the telephone?

• Thomas Edison

• Alexander Graham Bell

• Henry Ford

• JP Morgan

What does mass production involve?

• Making small quantities of unique items

• Making large quantities of a standardized item

• Combining companies at the same production level

• Owning all phases of production

Which car model was mass produced by Henry Ford?

• Model A

• Model T

• Model S

• Model X

What is an assembly line?

• A document granting rights to an invention

• A line of workers where the product comes to the workers

• A theory about business competition

• A method of combining companies

What concept is described by 'survival of the fittest in the business world'?

• Vertical integration

• Horizontal integration

• Social Darwinism

• Mass production

What is horizontal integration?

• Owning all phases of production

• Merging companies on the same level of production

• Producing goods in large quantities

• A line of workers assembling products

Who used horizontal integration to consolidate railroads?

• Henry Ford

• Alexander Graham Bell

• JP Morgan

• Vanderbilt

What is vertical integration?

• A method of producing goods in large quantities

• A company owning all phases of production from raw materials to finished product

• Merging companies on the same level of production

• A theory about business competition

What is a corporation?

• A group of businesses run by a single board of directors

• A company in which investors purchase stock

• A person who establishes a business for a profit

• An economic system with no government ownership