American Industrialization

Captains of Industry valued competition in a free market because they believed only the strongest companies would survive and result in better goods and services. This is an example of

• Unionism

• Control Market

• Socialism

• Social Darwinism

What are companies who dominate a specific industry (steel, oil, etc.) called?

• Monopolies

• Local Business

• Corporations

• Competitors

All of the following are TRUE about factory workers in the late 1800s except

• they worked 12 hour shifts for 6 days a week

• they were okay with and tolerated poor working conditions

• they had to rely on their employers to increase wages

• they worked in dangerous conditions

What did Union workers do when negotiations with their employers failed?

• They set factories on fire

• They went on strike

• They used collective bargaining

• They gave up and went home

The sometimes unethical business practices of some industrialists led them to be given this nickname

• Captains of Industry
• Tycoons
• Fat Cats
• Robber Barons

What is a Laissez-Faire economy?

• An economy that is completely controlled by the U.S. government
• An economy that is partially controlled by the U.S. government
• An economy that works best when there is very little involvement by the U.S. government
• An economy that is controlled by another country

Companies who control all the different phases of the business to control profits & maximize efficiency use the method called

• Horizontal Integration
• Vertical Integration
• Big Business Model
• Maximum Profit Idea

Companies who specialize in one area of business and  buy out competition use the method of organization called

• Horizontal Integration
• Vertical Integration
• Bug Business Model
• Maximum Profit Idea

The biggest oil company in the US during the period 1865-1900 was created by 

• JP Morgan
• Andrew Carnegie
• John D. Rockefeller
• Cornelius Vanderbilt

The man responsible for founding the biggest steel corporation in the US during the period 1865-1900 was

• JP Morgan
• Andrew Carnegie
• John D. Rockefeller
• Cornelius Vanderbilt