Impact of Big Businesses in America

The video explores the rise of industrialization in the U.S., starting with the 1876 Centennial Exposition, which showcased new technologies. It discusses the growth of big businesses, driven by natural resources, railroads, and banking. The video explains vertical and horizontal integration strategies used by industrialists like Carnegie and Rockefeller, and the resulting monopolies. It highlights the impact on workers and consumers, and presents differing perspectives on big business as both a driver of progress and a source of exploitation.

What was one of the main attractions at the Centennial Exposition of 1876?

• A futuristic airplane

• A digital camera

• A modern computer

• A huge steam engine

Why did Americans want to rely on themselves for manufacturing after the War of Independence?

• To increase exports

• To avoid European influence

• To improve agricultural output

• To reduce taxes

How did the expansion of railroads impact American industries?

• It connected resources and markets

• It isolated factories from markets

• It decreased the need for raw materials

• It reduced the number of workers needed

What is vertical integration?

• Reducing product prices

• Merging with competitors

• Controlling multiple stages of production

• Outsourcing production

How did John D. Rockefeller eliminate his competition?

• By increasing oil prices

• By selling oil at low prices

• By reducing oil production

• By buying all oil companies

What was a consequence of the business practices of industrialists like Carnegie and Rockefeller?

• Decreased consumer prices

• Higher wages for workers

• Improved working conditions

• Monopolies in their industries

What term was used to describe industrialists who were seen as exploiting workers and consumers?

• Economic pioneers

• Market leaders

• Captains of industry

• Robber barons

What was one positive view of big businesses in the late 1800s?

• They reduced the need for railroads

• They led to the country's growth and progress

• They eliminated the need for natural resources

• They decreased the population

What was a negative impact of big businesses on workers?

• Shorter working hours

• Higher wages

• Unsafe working conditions

• Increased job security

How did big businesses affect consumers?

• They improved product quality

• They lowered product prices

• They provided more product choices

• They forced consumers to buy at high prices