Topic 10, Lesson 4: Industry and Corporations

What process led to the expansion of the steel industry?

• Open-hearth process

• Bessemer process

• Siemens process

• Electric arc process

What was one effect of the steel industry expanding?

• Decrease in railroad tracks

• Longer-lasting railroad tracks

• Fewer jobs at steel mills

• Decline in skyscraper construction

Which of the following was a result of cheaper steel production?

• Decrease in steel towns

• Economic decline in the Midwest

• Creation of skyscrapers

• Fewer jobs at steel mills

How did the steel industry impact employment?

• Reduced jobs at steel mills

• New jobs at steel mills

• Fewer jobs in the Midwest

• Decrease in nationwide employment

What economic effect did the steel industry have on the Midwest?

• Economic decline in the Midwest

• Economic growth in the Midwest

• No change in the Midwest economy

• Economic growth only in the South

What industry is Andrew Carnegie known for making a fortune in?

• Textile

• Steel

• Automobile

• Oil

What did Andrew Carnegie do with the profits from his steel mill?

• Built schools

• Bought out his rivals

• Donated to charity

• Started a bank

Which of the following did Carnegie purchase to expand his empire?

• Textile factories

• Iron mines, railroads, steamship lines, and warehouses

• Oil refineries

• Coal mines

How did Andrew Carnegie become so rich?

• By inventing new technology

• By controlling all phases of the steel industry

• By inheriting wealth

• By winning a lottery

What is a corporation?

• A business owned by a single individual

• A business owned by investors

• A business owned by the government

• A business owned by employees