The Gilded Age Part 2 WS

What is a monopoly?

• The total control of an industry by one company

• The sharing of an industry by several companies

• The government ownership of all businesses

• The competition between small businesses

How did businesses like Carnegie Steel and Standard Oil limit consumer choice?

• By eliminating their competition and controlling prices

• By lowering prices for everyone

• By increasing the number of small businesses

• By supporting government regulations

Explain how the elimination of competition by monopolies could impact consumers.

• It could limit consumer choices and allow monopolies to control prices.

• It could increase the number of available products.

• It could make products cheaper for everyone.

• It could encourage more businesses to enter the market.

How were consumers typically affected by monopolies?

• They often faced higher prices and fewer choices

• They benefited from lower prices and more options

• They were unaffected by monopolies

• They received free products and services

How did big business owners respond to government attempts to restrict trusts?

• They used their wealth and influence to lobby against legislation

• They supported the new laws

• They reduced their prices

• They formed new monopolies

What was the main purpose of the Sherman Antitrust Act?

• To break up monopolies if they impeded competition

• To regulate banking practices

• To establish minimum wage laws

• To control immigration

Explain how the passage of the Interstate Commerce Act and the Sherman Antitrust Act reflected a shift in government policy towards big business.

• The government moved from a hands-off approach to actively regulating and breaking up monopolies to protect competition and consumers.

• The government began supporting monopolies to increase economic growth.

• The government reduced its involvement in economic matters.

• The government focused only on international trade regulations.

What were some of the consequences for workers due to poor labor conditions?

• Workers received frequent promotions

• Workers enjoyed paid vacations

• Workers were injured or became sick due to unsafe and dirty factories

• Workers had flexible work hours

What were working conditions like for many employees during the industrial era?

• Safe and comfortable

• Dangerous and unhealthy

• Highly paid and flexible

• Relaxed and stress-free

Why might business owners during the industrial era have been unconcerned about worker safety?

• They wanted to improve employee happiness

• They prioritized profit over safety

• They were required by law to ensure safety

• They believed safety was already adequate