What emerged as the dominant business structure in the Gilded Age?
Question 2
2.
Laissez-faire attitudes towards business led to tremendous growth in corporations during the Gilded Age.
Question 3
3.
A corporation is a business that sells __________in order to raise __________.
Question 4
4.
Stock is technically ownership in a company.
Question 5
5.
If a person purchased stock in the Standard Oil company, they would become:
Question 6
6.
Standard Oil will take the money they raised by selling stock and invest it back into their company.
Question 7
7.
If Standard Oil makes a profit from selling oil, they invest all of it back into their company to buy more things that they need.
Question 8
8.
What happens to the overall cost of manufacturing when a company is able to produce more goods at a faster rate?
Question 9
9.
Smaller companies who produce fewer goods are able to sell those goods for cheaper rates than larger companies who produce more goods.
Question 10
10.
What generally happens to smaller businesses who can't compete with large businesses like Standard Oil?
Question 11
11.
What strategy did Standard Oil use to drive their competition out of business?
Question 12
12.
When a company expands across the marketplace by putting other companies out of business, it is known as horizontal integration.
Question 13
13.
What can a company like Standard Oil do once they drive their competition out of business?
Question 14
14.
When a business owns and controls all of the materials needed to make a final product, it is known as vertical integration.
Question 15
15.
One of the benefits of vertical integration is that business owners no longer have to pay someone else for all the materials that they need.
Question 16
16.
Which form of integration is it when corporations expand and take over the businesses that compete against them?
Question 17
17.
A monopoly is when _______ business controls the majority of an industry.
Question 18
18.
Standard Oil was considered a monopoly because it controlled 90% of the country's oil supply.
Question 19
19.
Check off all of the following that are true of an economy that allows monopolies.
Question 20
20.
Which of the following is the best definition of the word "trust" when talking about the Gilded Age economy?
Question 21
21.
Portraying Standard Oil as an octopus was done to showcase how much influence this company had over the federal government and how dangerous this influence was.
Question 22
22.
During the Gilded Age, the government passed many laws to make sure that monopolies and trusts didn't become more powerful than the average people.