Rockefeller and the Oil Industry

The video explores the life of John D. Rockefeller, America's first billionaire, known for his business acumen and philanthropy. Born in 1839, Rockefeller was raised by his mother, who instilled in him the values of hard work and saving. He started his career in bookkeeping and later ventured into the oil industry, founding Standard Oil, which became a dominant force. Despite his wealth, Rockefeller was a devout Christian and philanthropist, donating much of his fortune to various causes. He passed away in 1937, leaving a lasting legacy.

What was John D. Rockefeller's mother's influence on him?

• She encouraged him to invest in oil.

• She discouraged him from attending church.

• She instilled in him the value of hard work and saving money.

• She taught him to be a con artist.

What was Rockefeller's first job?

• Produce company owner

• Railroad worker

• Oil refiner

• Assistant bookkeeper

Why did Rockefeller's produce business boom during the Civil War?

• He opened multiple stores.

• He discovered oil.

• He secured contracts with the Union Army.

• He invested in railroads.

What prompted Rockefeller to invest in the oil industry?

• Discovery of oil in Titusville, Pennsylvania

• A decline in the produce business

• A partnership with Henry Flagler

• His father's advice

What was the main use of oil in the 1800s?

• Lubricant for machines

• Kerosene for lamps

• Fuel for cars

• Heating homes

How did Rockefeller manage to offer cheaper prices for oil?

• By using cheaper raw materials

• By reducing production costs

• By hiring fewer workers

• By demanding discounts from railroads

What percentage of the oil production in America did Standard Oil control by the early 1880s?

• 70%

• 100%

• 90%

• 50%

What is a monopoly?

• A company that has multiple owners

• A company that controls all means of production and supply within an industry

• A company that operates in multiple countries

• A company that produces multiple products

Which university did Rockefeller help to found?

• Yale University

• University of Chicago

• Harvard University

• Stanford University

How much money did Rockefeller give away in his lifetime?

• Over $1 billion

• Over $540 million

• Over $200 million

• Over $100 million