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☀️ C2 - GILDED AGE BUSINESS: (MUST-DO)

Last updated almost 4 years ago

22 questions

Question 1 | 00:26

Question 2 | 00:41

Question 3 | 00:47

Question 4 | 00:52

Question 5 | 01:13

Question 6 | 01:34

Question 7 | 01:46

Question 8 | 02:10

Question 9 | 02:48

Question 10 | 03:05

Question 11 | 03:28

Question 12 | 03:36

Question 13 | 03:46

Questions 14 & 15 | 04:39

Question 16 | 05:16

Question 17 | 05:29

Question 18 | 05:46

Question 19 | 06:38

Question 20 | 07:11

Question 21 | 08:37

Question 22 | 09:30

00:00/00:00

Question 1

00:26

Required

1

Question 2

00:41

Required

1

Question 3

00:47

Required

1

Question 4

00:52

Required

1

Question 5

01:13

Required

1

Question 6

01:34

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1

Question 7

01:46

Required

1

Question 8

02:10

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1

Question 9

02:48

Required

1

Question 10

03:05

Required

1

Question 11

03:28

Required

1

Question 12

03:36

Required

1

Question 13

03:46

Required

1

Questions 14 & 15

04:39

Required

1

Required

1

Question 16

05:16

Required

1

Question 17

05:29

Required

1

Question 18

05:46

Required

1

Question 19

06:38

Required

1

Question 20

07:11

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1

Question 21

08:37

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1

Question 22

09:30

Required

1

Question 1

1.

What emerged as the dominant business structure in the Gilded Age?

Conglomerate

Proprietorship

Partnership

Corporation

Question 2

2.

Laissez-faire attitudes towards business led to tremendous growth in corporations during the Gilded Age.

True

False

Question 3

3.

A corporation is a business that sells __________in order to raise __________.

Question 4

4.

Stock is technically ownership in a company.

True

False

Question 5

5.

If a person purchased stock in the Standard Oil company, they would become:

a taxpayer

part owner

rich

the head of the company

Question 6

6.

Standard Oil will take the money they raised by selling stock and invest it back into their company.

True

False

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.

True

False

Question 8

8.

What happens to the overall cost of manufacturing when a company is able to produce more goods at a faster rate?

The cost of manufacturing decreases

The cost of manufacturing increases

The cost of manufacturing stays the same

There is no impact on the cost of manufacturing

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.

True

False

Question 10

10.

What generally happens to smaller businesses who can't compete with large businesses like Standard Oil?

They generally increase the price of their stock

They generally go out of business

They generally become more powerful than the large business

Question 11

11.

What strategy did Standard Oil use to drive their competition out of business?

They used violence and intimidation to threaten other business owners

They continuously changed the product that they were selling so that other businesses could not keep pace

They temporarily made their prices so low that the other businesses couldn't compete

They raised their prices so that they made more money and could therefore buy out other businesses

Question 12

12.

When a company expands across the marketplace by putting other companies out of business, it is known as horizontal integration.

True

False

Question 13

13.

What can a company like Standard Oil do once they drive their competition out of business?

Begin selling different products

Raise their prices back up again

Go out of business

Lower their prices below the cost of manufacturing

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.

True

False

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.

True

False

Question 16

16.

Which form of integration is it when corporations expand and take over the businesses that compete against them?

Vertical Integration

Horizontal Integration

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.

True

False

Question 19

19.

Check off all of the following that are true of an economy that allows monopolies.

One company dominates an entire industry.

There is little incentive to innovate or create better products.

Prices are higher because there is no competitition.

Many new and creative products are introduced to the market.

Prices are lower because there is no competitition.

Many companies exist within the same industry.

Companies are very competitive with each other.

Question 20

20.

Which of the following is the best definition of the word "trust" when talking about the Gilded Age economy?

A group of businesses in the same industry that work together to eliminate their competition.

A group of businesses that compete with each other and refuse to work together.  

A special form of corporation with very few stockholders.

A corporation that has eliminated all competition in the industry and now has 100% of the marketplace.

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.

True

False

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.

True

False