AnswersFL-2100310-United States History Sem 1Trusts and Big Business

Trusts and Big Business Answers

8 verified answers1 views
1
Free Preview

Which company was a monopoly during the Gilded Age?

A
Carnegie Steel
B
Microsoft
C
AT&T
D
Allegheny Steel
2
Free Preview

A government is laissez-faire when it

A
does not interfere with business affairs and does not regulate its actions.
B
fairly regulates businesses.
C
leaves workers alone and doesn’t regulate unions.
D
fairly regulates workers.
3

When an industry was monopolized by one company or trust during the Gilded Age, what happened to workers’ wages?

A
Workers often earned less because fewer businesses were competing for their services.
B
Workers often earned less because more businesses were competing for their services.
C
Workers often earned more because fewer businesses were competing for their services.
D
Workers often earned more because more businesses were competing for their services.
4

Which statement is true about the relationship between a monopoly and its competition in a market?

A
Monopolies are formed when they buy out their competition in a market.
B
Competition in the market helps monopolies to develop.
C
Competition in the market ensures that monopolies charge fair prices.
D
Monopolies thrive when they have competition.
5

In the Gilded age, how did monopolies affect many small businesses?

A
Monopolies helped small businesses grow.
B
Monopolies forced small businesses to shut down.
C
Monopolies had no effect on small businesses.
D
Monopolies provided customers for small businesses.
6

Why was the Cleveland Massacre significant in the formation of Standard Oil?

A
Standard Oil significantly improved its business practices after the Cleveland Massacre.
B
Standard Oil became a monopoly in the Cleveland oil market after the Massacre.
C
Standard Oil was bought out by other Cleveland companies after the Massacre.
D
Standard Oil closed down after the Cleveland Massacre.
7

What made Standard Oil a horizontal integration monopoly?

A
It owned ninety percent of US oil refineries.
B
It controlled all aspects of oil production.
C
It operated all across the United States.
D
It formed a trust.
8

What business practices contributed most to Andrew Carnegie’s ability to form a monopoly?

A
combining his companies into one company and controlling all aspect of steel production
B
focusing on a single aspect of steel production
C
using profits to support charities and greatly improving his reputation
D
increasing his profits every year
9

Why was Carnegie Steel considered a vertical monopoly?

A
The company controlled every step of steel production, from raw materials to distribution.
B
The company controlled all the steel plants in the country.
C
The company was able to produce more steel than any other steel company in the world.
D
The company became the only source of steel after competitors went out of business.
10

Why was Carnegie Steel able to offer its product more cheaply than its competitors?

A
Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.
B
Carnegie cut corners in his production, lowering his costs.
C
Carnegie made an inferior product, so it was less expensive to produce.
D
Carnegie introduced the Bessemer process, which decreased the cost of production.

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Trusts and Big Business

Quiz
1 verified answers

Trusts and Big Business

Quiz
12 verified answers

Socialism and Workers' Parties