US8: Industrialization

How did the introduction of machines affect levels of production?

• Less goods were produced at higher prices

• More goods were produced at higher prices

• Less goods were produced at lower prices

• More goods were produced at lower prices

This man owned Standard Oil Company. Who is he?

• Vanderbilt

• Carnegie

• Rockefeller

• Sibley

This man was born in Scotland and owned a steel company. Who is he?

• Vanderbilt

• Carnegie

• Rockefeller

• Sibley

Which entrepreneur benefitted the most from the Bessemer Process?

• Vanderbilt

• Carnegie

• Rockefeller

• Sibley

What was a benefit of using the assembly line?

• Mass production

• Stronger steel

• Higher taxes

• Great benefits for unskilled labor

Which of the following is most closely associated with corporations, capital, and stocks?

• Transcontinental Railroad

• Invention of the automobile

• Rise of Big Business

• Depletion of natural resources

How did railroads industry grow?

• Development of the Bessemer Process

• Forming Trusts

• Moving people to underdeveloped areas

• Creating a need for more products and resources

Why did corporations become a major form of business organization?

• People preferred buying from small businesses

• Allowed them to raise a lot of money very quickly

• All other business types were outlawed by the government

• Labor unions preferred large corporations

Why were labor unions organized?

• To make the government look good

• To improve working conditions and increase wages

• To help corporations gain more profit

• To promote a socialist economy

What is a business called that controls nearly 100% of a market?

• Monopoly

• Corporation

• Cooperation

• Feudalism