Big Business In the Industrial Revolution

Which of the following was a direct impact of the Civil War on American industrialization?

• It led to the immediate abolition of all tariffs on imported goods.

• It spurred industrialization by providing massive contracts to arms and clothing manufacturers.

• It resulted in a significant decrease in the use of the telegraph for communication.

• It delayed the construction of the transcontinental railway.

What three main factors are identified as contributing to America's economic growth?

• Government, Diplomacy, and Labor

• Geography, Demography, and Law

• Gold, Diamonds, and Land

• Global trade, Domestic consumption, and Leadership

Between 1870 and 1900, what was the approximate population growth in the United States, and what was a significant factor contributing to this growth?

• From 20 million to 40 million, primarily due to natural birth rates.

• From 40 million to 76 million, with one-third of the growth attributed to immigration.

• From 50 million to 100 million, mainly due to westward expansion.

• From 30 million to 60 million, largely due to increased life expectancy.

How did railroads contribute to America's industrial success in the 19th century?

• They primarily served as a means for individual farmers to transport their goods directly to consumers.

• They led to the decline of national brands by favoring local businesses.

• They increased commerce, integrated the American market, and facilitated the emergence of national brands.

• They were solely responsible for the creation of the first modern corporations.

By the late 1880s, what percentage of the US oil industry was controlled by Standard Oil?

• 50%

• 75%

• 90%

• 100%

What business strategy involves a company acquiring control over all stages of its product's supply chain, from raw materials to distribution?

• Horizontal integration

• Vertical integration

• Trust formation

• Pool arrangement

Which event in 1886, involving a bomb and subsequent police violence, significantly damaged the public image of the Knights of Labor?

• The Homestead Steel Strike

• The Pullman Rail Strike

• The Haymarket Riot

• The Great Railroad Strike

What concept, which applied the idea of "survival of the fittest" to human society and business, was used to justify monopolies and oppose government regulation?

• Laissez-faire economics

• Social Darwinism

• Manifest Destiny

• Supply and demand