Unit 2 - Gilded Age

What is vertical integration?

• Controlling the majority interest in another company or companies
• A reduction in price
• Owning or controlling every stage of the industrial process
• Sharing resources or skilled labor

What was the name of the trust that controlled 90% of the nation's oil supply?

• Standard Oil Trust
• Carnegie Steel Company
• Morgan Banking Trust
• U.S. Steel Corporation

Who had a significant impact on the banking and steel industries?

• Thomas Edison
• John D. Rockefeller
• J.P. Morgan
• Andrew Carnegie

What did Andrew Carnegie use to gain control of the steel industry?

• Vertical integration
• Mergers
• Pooling
• Rebates

What is the term for controlling a majority percentage of an industry?

• Monopoly
• Oligopoly
• Syndicate
• Cartel

Who took control of over 100 corporations and acquired Carnegie's steel mills and assets?

• John D. Rockefeller
• Andrew Carnegie
• J.P. Morgan
• Henry Ford

What was the purpose of the rebate given to Rockefeller by the railroad companies?

• To promote fair trade
• To support rival companies
• To save shipping costs
• To increase competition

What factors contributed to the U.S. becoming the leading industrial power in the world by 1900?

• Strong labor unions
• Abundance of natural resources
• Isolationist foreign policy
• Lack of technological innovation

What was the name of the nation's first billion dollar corporation organized by J.P. Morgan?

• Standard Oil Trust
• Morgan Banking Trust
• U.S. Steel Corporation
• Carnegie Steel Company

What is the term for the integration of all stages of production within a single company?

• Vertical integration
• Horizontal integration
• Conglomerate integration
• Diversified integration