Age of Big Business & Historical Figures

What does capital (money) have to do with the growth of business?

• Capital is not related to business growth.

• Capital is important for business growth.

• Capital stops business growth.

• Capital has a small role in business growth.

Andrew Carnegie was:

• a famous American author

• a Scottish-American industrialist, philanthropist, & tycoon

• a British scientist

• a French artist

Why were “trusts” considered to be a problem?

• They promoted fair competition.

• They led to monopolies and reduced competition.

• Trust helps people build relationships.

• They encouraged rabbits to eat all the cabbage in their pens.

What are the three factors of production?

• Land, Labor, Capital
• Money, Dogs, & Time

• Time, Money, Grass

• Goods, Services, People

Who buys stock?

• People & Companies

• Labor Unions

• Dogs

• All of the above

How did Standard Oil become a monopoly (hint** a control-freak)?

• By buying smaller businesses and making deals with the railroad companies

• By inventing a new soil extraction technology

• By focusing on world markets

• By donating money

Why did Congress pass the Sherman Antitrust Act?

• To promote fair competition and stop monopolies

• To help big businesses become bigger

• To stop the government from helping people

• To allow small businesses to sell fruit smoothies

What was the primary industry that Vanderbilt was involved in?

• Oil

• Railroads & Steamboats

• Steel

• Car

What is the role of workers in the factors of production?

• Workers are not necessary for production

• Workers are not important in factories or businesses

• Workers provide the people needed to produce goods

• Workers only get in the way of producing goods

Which of the following is a NATURAL resource in the factors of production?

• Capital

• Labor

• Entrepreneurship

• Land