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U.S. History -Age of Innovation and Industry Vocabulary Quiz

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

What is the Bessemer process?

a)

a method of steelmaking invented in 1855 that enabled steel to be made more cheaply and quickly

b)

a company that completely dominates a particular industry

c)

a company recognized by law to exist independently from its owners, with the ability to own property, borrow money, sue, or be sued

2.

What is a trust?

a)

A type of financial investment managed by a large group known as trustees, who can make a lot of money

b)

A type of insurance policy where a small group of people pay for the majority of the insurance premium

c)

A form of government regulation managed by a small group known as trustees, who can make laws

d)

a set of companies managed by a small group known as trustees, who can prevent companies in the trust from competing with each other

3.

What is Social Darwinism?

a)
A theory that promotes equality among all races and social classes
b)
A belief that intelligence is determined by genetics and cannot be changed
c)
An ideology that supports the idea of a classless society
d)

An idea, based on Charles Darwin's theory of evolution, that the best-run businesses led by the most capable people will survive and prosper

4.

What is an entrepreneur?

a)
A person who is employed by the government
b)
Someone who invests in the stock market
c)
A person who starts a business or organization, taking on financial risks in the hope of profit.
d)
A person who works for a large corporation
5.

What was the Haymarket Affair?

a)

a violent clash between union supporters and Chicago police that divided and weakened the labor movement

b)

A celebration of agricultural workers' rights where many unions were created

c)

A peaceful protest for women's suffrage that resulted in women's right to vote

d)
A diplomatic meeting between labor unions and government officials
6.

What is Capitalism?

a)
Capitalism is an economic system based on bartering goods and services
b)

Capitalism is a system based on public ownership of the means of factories and other means of production l

c)

Capitalism is a system in which factories and other means of production are controlled by the government

d)

Capitalism is a system in which factories and other means of production are privately owned rather than controlled by government

7.

What is a Monopoly?

a)

A Monopoly is when the money in a country begins to loose value.

b)
A Monopoly is a situation in which a single company or group owns all or nearly all of the market for a given type of product or service.
c)
A Monopoly is a type of rock formation found in deserts, characterized by a single large stone standing alone.
d)
A Monopoly is a type of government ruled by a single individual with absolute power.
8.

What is horizontal integration?

a)
A strategy where a company acquires or merges with competitors in the same industry
b)
A strategy where a company invests in research and development
c)
A strategy where a company targets a different market segment
d)
A strategy where a company focuses on expanding its product line
9.

What is a Labor Union?

a)

An organization formed by churches to make sure they follow labor laws.

b)

An organization formed by companies to protect their rights and interests in the workplace.

c)

An organization formed by the government to protect workers and their rights and interests in the workplace.

d)
An organization formed by workers to protect their rights and interests in the workplace.
10.

What is the Sherman Anti-Trust Act?

a)

A daring act of bravery dating back to 1776 when General Sherman led America to victory over the British,

b)

A 1900s statute banning the creation of anti-trusts and other forms of gambling.

c)

A 2010 federal law outlawed trusting foreign countries with military secrets.

d)

An 1890 federal law that outlawed trusts, monopolies, and other forms of business that restricted trade.