6.6 - Industrial Capitalism

Which of the following best describes the role of entrepreneurs in the late 1800s?

• They were primarily inventors

• They focused on organizing & promoting big business

• They were mostly small business owners

• They specialized in manual labor

What was John D. Rockefeller's initial business venture in the oil industry?

• Oil drilling

• Oil transportation

• Oil refining

• Oil retail

By 1879, what percentage of oil refining did Standard Oil control in the United States?

• 50-60%

• 70-80%

• 80-90%

• 90-95%

Which industry did Andrew Carnegie ultimately concentrate on in 1873?

• Textiles

• Railroads

• Steel

• Telegraphy

What distinguishes J.P. Morgan's background from that of Rockefeller and Carnegie?

• He was born into wealth

• He was self-taught

• He started as a factory worker

• He immigrated to America as an adult

What significant achievement did J.P. Morgan accomplish in 1901?

• Created the first national bank

• Established the New York Stock Exchange

• Created the United States Steel Corporation

• Invented a new financial instrument

What was the primary challenge for manufacturers after the Civil War?

• Producing new products

• Securing raw materials

• Finding skilled labor

• Extending the reach of national commerce to rural areas

Who founded the company that would become Sears, Roebuck and Company?

• Aaron Montgomery Ward

• John Wanamaker

• Richard Sears and Alvah Roebuck

• J.C. Penney

By 1907, what had Sears become?

• The largest steel producer in the nation

• One of the largest business enterprises in the nation

• The primary oil refiner in the country

• The biggest bank in America

What was the second most widely read book in the nation after the Bible by 1900?

• The New York Times

• The Sears catalog

• The Farmer's Almanac

• McGuffey's Reader