Gilded Age Day 2 - Industrialization

Which of the following was a characteristic of the Gilded Age in the late 1800s and early 1900s?

• Industrialization leading to greater economic output

• Decline in technological advancements

• Reduction in political influence of corporations

• Decrease in labor union activities

How did big businesses influence the Gilded Age?

• They grew into large corporations with political influence.

• They reduced their political involvement.

• They focused on small-scale local markets.

• They avoided technological advancements.

What was the significance of the Bessemer steel process introduced in the late 1800s?

• It was a method for producing stronger, cheaper steel.

• It was a technique for building wooden structures.

• It was a process for creating plastic materials.

• It was a method for producing glass.

How did the introduction of the light bulb and electrical power by Thomas Edison impact businesses?

• Businesses shifted from electrical power to steam power.

• Employees were able to work longer hours and produce more goods.

• Factories became less efficient and harder to control.

• Businesses stopped using any form of power.

What is a key characteristic of a free enterprise system?

• High government interference

• Limited government interference

• No private businesses

• Fixed prices by the government

In a free enterprise system, who determines the price of goods and services?

• The government

• Business competition and supply and demand

• Consumers only

• A central authority

How does free enterprise affect business owners?

• It limits their ability to innovate.

• It provides opportunities for growth and competition.

• It guarantees government support.

• It restricts market entry.

What were some of the complaints of Carnegie's employees?

• Long hours, dangerous working conditions, and little pay

• Lack of job security and poor management

• Insufficient training and lack of benefits

• Poor communication and outdated equipment

What was one of Andrew Carnegie's focuses in his philanthropic efforts?

• Building hospitals

• Establishing libraries and educational institutions

• Funding scientific research

• Supporting environmental conservation

At its peak, what percentage of the oil industry did Rockefeller's company control?

• Fifty percent

• Ninety percent

• Seventy percent

• Thirty percent