APUSH Chapter 24 review

How did the completion of the transcontinental railroad impact the US economy in the late 1800s?

• It led to the decline of the steel industry.

• It facilitated the movement of goods and people, boosting trade and settlement.

• It caused a decrease in agricultural production.

• It resulted in the isolation of the western states.

What was the significance of the Interstate Commerce Act in regulating business practices?

• It allowed monopolies to form without government interference.

• It was the first federal law to regulate private industry, targeting unfair railroad practices.

• It eliminated tariffs on imported goods.

• It provided subsidies to struggling businesses.

Analyze how vertical and horizontal integration strategies were used by industrialists in the late 1800s.

• Vertical integration involved acquiring competitors to monopolize a market.

• Horizontal integration involved controlling all aspects of production from raw materials to distribution.

• Vertical integration involved controlling all aspects of production from raw materials to distribution, while horizontal integration involved acquiring competitors.

• Both strategies were used to reduce production costs by outsourcing labor.

Evaluate the role of the Standard Oil Company in shaping the US economy during the late 19th century.

• It was a small regional company with little influence.

• It pioneered the use of trusts to create a monopoly, influencing antitrust legislation.

• It focused solely on the production of natural gas.

• It was primarily involved in the textile industry.

Discuss the impact of Social Darwinism on business practices and labor relations in the late 1800s.

• It promoted the idea that government should heavily regulate businesses.

• It justified the success of big businesses and discouraged government intervention.

• It led to the immediate abolition of child labor.

• It encouraged businesses to adopt socialist principles.

How did the Sherman Antitrust Act aim to address issues in the marketplace?

• It supported the formation of trusts to stabilize the economy.

• It aimed to prevent monopolies and promote fair competition.

• It encouraged the consolidation of small businesses into larger entities.

• It focused on reducing tariffs on imported goods.

Identify and explain the role of labor unions in the late 19th century.

• Labor unions were primarily social clubs with no political influence.

• Labor unions organized workers to demand better wages and working conditions.

• Labor unions were government agencies that regulated employment.

• Labor unions focused on promoting agricultural development.

Analyze the significance of the Haymarket Square incident in the labor movement.

• It marked the end of labor unions in the US.

• It was a peaceful protest that led to increased support for labor rights.

• It resulted in a violent clash that heightened tensions between labor and management.

• It was an unrelated event that had no impact on labor relations.

Compare the business strategies of Rockefeller and Carnegie in building their industrial empires.

• Both relied solely on government contracts to grow their businesses.

• Rockefeller focused on oil and used horizontal integration, while Carnegie focused on steel and used vertical integration.

• Both were involved in the textile industry and used similar strategies.

• Rockefeller and Carnegie both avoided any form of integration in their business models.

Evaluate Samuel Gompers' contributions to the labor movement in the United States.

• He was a leading figure in the abolitionist movement.

• He founded the American Federation of Labor and advocated for skilled workers' rights.

• He was a prominent industrialist who opposed labor unions.

• He focused on promoting agricultural development.