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WorksheetsU.S. History: Ch 12 Test
Total questions: 21
Worksheet time: 13mins
Wages, shipping charges, and supplies Are what kind of costs?
(a)
The first oil well was drilled near Titusville, Pennsylvania, by
Andrew Carnegie
Edwin Drake
John D Rockefeller
Oakes Ames
Represented all skilled/craft workers
(a)
Began the railroad boom
Pacific Railway Act
Edwin Drake
Laissez-Faire
Standard Oil
Loans, mortgages, and taxes are what kind of cost?
(a)
Control of a kind of industry by one person
(a)
Enabled longer and heavier trains
(a)
Belief that the government should not interfere in the economy
(a)
Even before the invention of the automobile, petroleum was in high demand because it could
be made into plastics.
be turned into kerosene.
lubricate moving parts in a machine.
power locomotives.
Laissez-faire relies on __________ to regulate prices and wages.
supply and demand
Vertical Integration
The government
the GNP
During the early days of industrialization, many members of Congress believed that tariffs were necessary to
entice European consumers to buy American goods.
increase the prices Europeans paid for American products.
protect new industries from foreign competition.
entice American consumers to buy European goods
Started the corporation 'Standard Oil'
Jay Gould
Andrew Carnegie
Holding Companies
John Rockefeller
The most famous and successful investment banker who bought Andrew Carnegie's Steel Company
Karl Marx
John Rockefeller
JP Morgan
Jay Gould
People who risk their own money to organize and run businesses are known as
capitalists.
entrepreneurs.
robber barons.
investors
In the Crédit Mobilier scandal, Union Pacific investors
accepting bribes from business owners to route railroad tracks through their towns.
achieving a monopoly in hauling freight along their railroads' tracks.
conspiring with other railroads to set high prices.
sold stocks to congressman at low value in exchange for land grants
The total value of all goods and services that a country produces is its
distribution chain.
economy of scale.
gross national product.
supply of natural resources
The American Federation of Labor pushed for closed shops, which meant that companies
could only hire union workers.
could not try to prevent strikes.
would agree to collective bargaining.
would not hire African Americans
Formed the first trust
Standard Oil
Carnegie Steel Corporation
JP Morgan
Thomas Edison
What is one advantage that big corporations had over small businesses?
Their products were more expensive.
They could hire more workers.
They had higher operating costs.
They could produce goods more cheaply and efficiently
Does not produce anything itself but owns the stock in companies that do produce goods
Trust
Holding Company
Shareholder
Jay Gould
What is a corporation, who owns it, and how does it raise money
