Lesson 3: The Age of Big Business

What substance was found in the hills of western Pennsylvania that led to the creation of a multimillion-dollar industry?

• Coal

• Gold

• Silver

• Iron

Who was the former railroad conductor that believed he could find petroleum by digging a well?

• The former railroad conductor who believed he could find petroleum by digging a well was Edwin Drake.

• The former railroad conductor who believed he could find petroleum by digging a well was John D. Rockefeller.

• The former railroad conductor who believed he could find petroleum by digging a well was Henry Ford.

• The former railroad conductor who believed he could find petroleum by digging a well was Thomas Edison.

What are the three factors of production mentioned in the passage?

• Land, Labor, Capital

• Money, Machines, Management

• Resources, Workforce, Technology

• Investment, Infrastructure, Innovation

How could a company raise capital according to the passage?

• By issuing stocks

• By taking loans

• By reducing expenses

• By increasing sales

How did the growth of corporations help fuel America's industrial expansion?

• By increasing competition and lowering prices

• By providing capital for large-scale production

• By reducing the need for skilled labor

• By focusing on agricultural development

What was the name of the steel plant built by Andrew Carnegie near Pittsburgh?

• Homestead Steel Works

• Pittsburgh Steel Mill

• Carnegie Steel Plant

• Allegheny Iron Works

Who were some of the industrial millionaires interested in philanthropy during the time?

• Andrew Carnegie and John D. Rockefeller

• Henry Ford and Thomas Edison

• J.P. Morgan and Cornelius Vanderbilt

• Steve Jobs and Bill Gates

The Sherman Antitrust Act was passed in 1890 to:

• Regulate interstate commerce

• Promote fair competition and prevent monopolies

• Establish a national banking system

• Provide federal subsidies to businesses

What is the meaning of the word 'abate'?

• To increase

• To lessen

• To maintain

• To ignore

What is the meaning of the word 'aberration'?

• A deviation from the norm

• A type of fruit

• A mathematical operation

• A musical instrument