Exploring America's Industrial Giants

Who was the founder of Standard Oil?

• Andrew Carnegie

• John D. Rockefeller

• Cornelius Vanderbilt

• J.P. Morgan

What is a monopoly?

• A type of government

• A market structure with many competitors

• When one company controls and sets prices for a particular industry.

• A type of currency

Which industry was Andrew Carnegie associated with?

• Oil

• Steel

• Railroads

• Banking

Which term describes wealthy and powerful 19th-century American businessmen who were accused of using exploitative practices, such as poor working conditions.

• Captains of Industry

• Robber Barons

• Philanthropists

• Innovators

How did Cornelius Vanderbilt contribute to the transportation industry?

• By inventing the airplane

• By building a network of railroads

• By creating the first automobile

• By developing the steam engine

Why were monopolies considered harmful to the economy?

• They increase competition

• They lead to higher prices and less choice for consumers

• They create more jobs

• They improve product quality

What was the primary product of Standard Oil?

• Steel

• Coal

• Oil

• Electricity

How did John D. Rockefeller impact the oil industry?

• By inventing the oil drill

• By creating a monopoly through Standard Oil

• By discovering new oil fields

• By reducing oil prices

What was the main criticism of the "Robber Barons"?

• They paid high wages to workers

• They used unfair business practices to eliminate competition

• They donated too much money to charity

• They supported small businesses

Which industry did Cornelius Vanderbilt dominate?

• Steel

• Oil

• Railroads

• Banking