Robber Barons Quiz

The Gospel of Wealth says...

• The wealthy should keep all of their money

• The poor should work harder and take care of themselves

• The Wealthy have a duty to give away their money to help society

• Money is the root of all evil

Andrew Carnegie made his fortune in what industry?

• Cars

• Oil

• Railroads

• Steel

John D. Rockefeller founded what company?

• IBM

• Standard Oil

• McDonalds

• US Steel

What is Vertical Integration?

• When a company owns all the steps in the industrial process

• When a company buys out all of their competition

• A hands off approach to government regulation

• The belief that the wealthy should give away their money

What does Laissez-faire mean?

• People who risk their money by starting a business

• The government should have a Hands Off approach to business

• some made up French word

• A company owned by John Astor

What is a Robber Baron?

• An individual who uses their fortune/company to make society better

• An individual who built their fortunes by exploiting workers, crushing competition, and bribing government officials.

• The Red Baron's cousin

• Someone who invests their money in a business

What is a Captain of Industry?

• An individual who uses their fortune/company to make society better

• a Marvel superhero

• Someone who buys stock in a company

• An individual that built their fortunes by exploiting workers, crushing competition, and bribing government officials

Standard Oil was a monopoly?

• True

• False

Horizontal Integration is..

• A subsidiary of US Steel

• When a company owns all the steps in the industrial process

• a person who buys stock in a company

• when a company grows by buying up all of its competitors

When a single company has complete control of a product or industry this is called what?

• Hostile Takeover

• Vertical Integration

• Monopoly

• Horizontal Integration