Gilded Age Social Issues and Economy

The video explores the rise of big business in the U.S. during the late 1800s, focusing on the transition from individually owned businesses to corporations with many investors. It highlights the advantages of corporations, such as reduced risk and continued existence beyond founders' lifetimes. The video discusses the monopolistic practices of John D. Rockefeller and Andrew Carnegie, their contributions to wealth disparity, and the societal issues of the Gilded Age. It also examines the economic struggles in the American South, emphasizing the pervasive poverty and the system of sharecropping.

What significant change occurred in business ownership starting in the 1880s?

• Businesses were mostly owned by the government.

• Businesses were owned by a single individual.

• Businesses began to seek investors and became corporations.

• Businesses were owned by foreign entities.

What is a primary advantage of a corporation issuing stock?

• It enables the company to raise money quickly.

• It ensures the company will always have a single owner.

• It guarantees the company will never go bankrupt.

• It allows the company to avoid taxes.

Why are banks more likely to lend money to corporations?

• Corporations have a single owner.

• Corporations are always profitable.

• Corporations are less likely to fail.

• Corporations have many owners, reducing risk.

Which industries were particularly successful during the late 1800s?

• Oil and steel

• Textile and agriculture

• Automobile and electronics

• Banking and finance

What business strategy did John D. Rockefeller use to dominate the oil industry?

• He partnered with foreign oil companies.

• He created a monopoly by controlling the entire industry.

• He diversified into multiple industries.

• He focused on small-scale production.

How did Andrew Carnegie streamline his steel production operations?

• By outsourcing production overseas

• By focusing solely on marketing

• By purchasing all businesses needed for steel production

• By reducing the quality of his products

What is the Gilded Age known for?

• A period of widespread prosperity for all Americans

• A time of peace and no social issues

• A time when the wealth of a few masked the poverty of many

• An era of technological stagnation

What does the term 'gilded' imply about the American economy during the Gilded Age?

• It was dominated by foreign investments.

• It appeared prosperous but had underlying issues.

• It was solid and prosperous throughout.

• It was entirely based on agriculture.

Which authors wrote about the social issues during the Gilded Age?

• J.K. Rowling, George Orwell, J.R.R. Tolkien

• Ernest Hemingway, F. Scott Fitzgerald, John Steinbeck

• Horatio Alger, Charles Warner, Mark Twain

• Stephen King, Agatha Christie, Arthur Conan Doyle

What was a significant issue faced by the American South during the Gilded Age?

• Rapid industrialization

• Widespread poverty and failed reconstruction

• Overpopulation in urban areas

• Excessive foreign investment