Unit 2-3 quiz (Carnegie & Rock)

Match the following economic systems with their characteristics.

• Citizens vote to make decisions

• democratic

• Anyone can own a business

• facist

• The government owns all businesses

• communist

• The government controls businesses and suppresses opposition

• free enterprise

The goal of a business in a free enterprise system is to make a (a)  

• profit
• manager
• risk
• loss

complete control of a product or service; the elimination of fair competition

• Robber Barons
• Bessemer Process
• Monopoly
• Philanthropy

inventor known for the telephone and the company that later becomes AT&T

• Alexander Graham Bell
• Knights of Labor
• Thomas Edison
• John D. Rockefeller

completed in 1869 at Promontory Point, Utah making it possible to travel by land to California

• Transcontinental Railroad
• Interstate Highway
• Route 66
• Henry Ford's Model T

linked goods and services through technology and transportation making commerce more affordable.

• National Market
• Interstate Commerce Act
• Robber barons
• Child Labor

process which made steel more affordable and profitable

• Gospel of Wealth
• Bessemer Process
• Smelting
• Monopoly

The inventor best known for his invention of the electric light bulb is (a)   .

• Nikola Tesla
• Thomas Edison
• J.P. Morgan
• Elias Lightbulb

theory that government should not interfere in the operation of the free market

• Cul-de-sac
• Laissez-Faire
• Fleur de Lis
• Achtung

individuals are free to produce and sell whatever products they wish

• Free Enterprise System
• Social Darwinism
• Gospel of Wealth
• National Market