2nd Industrial Revolution

Which of the following best describes a monopoly?

• A market with many companies competing to sell the same product.
  

• A government program that controls prices for all businesses.
  

• A company that controls most or all of the supply of a product or service.
  

• A business that sells a variety of different products in different industries.

Best definition to describe "rural"

• Relating to urban areas and cities.
• Describing a largely populated region.

• Relating to the countryside

• Connected to industrial zones and factories.

Best definition to describe the word "urban"

• Connected to agricultural practices.
• Pertaining to a forest or wilderness.
• Relating to a rural area.
• Relating to a city or town.

Who was Andrew Carnegie?

• industrialist and monopolist known for founding Carnegie Steel Company.

• famous painter from France.

• politician in the United States.

• renowned scientist who discovered electricity.

The Second Industrial Revolution can best be described as a time period when…

• urban (city) areas in the United States declined in size and importance

• manufacturing methods remained largely unchanged

• 1. economic advancements had little impact on American society 

• massive changes to the economics of the United States occurred

The principal message of the cartoon is that the Standard Oil Company…

• used its economic power to influence government decisions

• used its size to lower the prices of its products

• protected the nation from a powerful government

• had little, if any, political power 

What was one significant impact of the steel industry during the Second Industrial Revolution in the United States?

• It resulted in the elimination of all labor unions.

• It led to a decrease in urbanization as people moved to rural areas.

• It contributed to the construction of railroads and skyscrapers, fueling economic growth.

•  It caused a decline in the use of coal as an energy source.

How did John D. Rockefeller’s Standard Oil impact smaller oil companies during the late 19th century?

• It drove many smaller companies out of business through aggressive practices.
  

• It provided them with resources to expand their operations.
  

• It encouraged partnerships among smaller oil firms for mutual benefit.

• It created a more equitable market for all oil producers.

All of the following were effects of the second Industrial Revolution on the United States except…

• the amount of people migrating to the United States rose dramatically

• economic activity in the United States remained relatively  unchanged

• 1. the number of Americans living in city areas drastically increased 

• 1. available transportation expanded greatly 

Which of the following would be a negative effect of a Monopoly?

• Higher prices for consumers
• Lower prices for consumers
• Improved product quality
• Increased competition among businesses