The Growth of Big Business

What two key industries formed the foundation of the new industrial power in America during the late 19th century?

• Textiles and Coal

• Steel and Oil

• Agriculture and Shipping

• Railroads and Banking

​ (a)   , made cheaply through new processes like the ​ (b)   method, became the backbone of railroads, bridges, ​ (c)   , and factories, allowing cities and national transportation networks to expand quickly.

• Steel
• Bessemer
• skyscrapers

The growing ​ (a)   provided kerosene for lighting and later other ​ (b)   , powering ​ (c)   , businesses, and machinery

• oil industry
• fuels
• homes

By 1880, what percentage of America's oil refining was controlled by John D. Rockefeller's Standard Oil?

• 50%

• 75%

• 90%

• 100%

A corporation functions by

• having a utilitarian shell center of network mobilizers configuring rotational valuations ina company's profitations

• having groups of individuals provide money, own shares and share in profits and losses

• when one company taxes all other companies

What economic philosophy characterized the late 19th century in America, allowing businesses to operate with minimal government regulation?

• Socialism

• Mercantilism

• Laissez-Faire Capitalism

• Communism

What was the core belief of the "Gospel of Wealth" philosophy advocated by figures like Andrew Carnegie?

• Wealthy individuals should accumulate as much money as possible for personal gain.

• Wealthy individuals have a moral duty to use their fortunes to benefit the public good.

• Wealth should be redistributed equally among all citizens by the government.

• Wealth is a sign of divine favor and should not be shared.

If you were massively rich and were to give away most of your fortune, where would you contribute your money?