☀️ C4 - GILDED AGE BUSINESS: RETRIEVAL QUIZ (MUST-DO)

Last updated about 4 years ago

23 questions

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Library

☀️ C4 - GILDED AGE BUSINESS: RETRIEVAL QUIZ (MUST-DO)

Last updated about 4 years ago

23 questions

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A corporation is a business owned by __________.

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The main goal of corporations is to make a _______.

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A _______ is a business that dominates an entire industry.

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Draggable item		Corresponding Item

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Businessmen who engaged in evil and corrupt business strategies were often referred to as __________.

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A corporation is a business owned by __________.

The main goal of corporations is to make a _______.

A trust is when one company eliminates all of its competition so that it is the only business left in the industry.

True

False

A _______ is a business that dominates an entire industry.

Corporations often try to take over other businesses as a way to eliminate their competition.

True

False

Match the type of integration to its definition.

Draggable item		Corresponding Item
Vertical Integration		When businesses buy out all of their competition
Horizontal Integration		When businesses buy all of the companies that supply them

If John D Rockefeller, the head of Standard Oil, bought out another oil company, which type of integration would he be using?

Horizontal integration

Vertical integration

If Cornelius Vanderbilt, a railroad tycoon, bought all the steel and lumber companies, he would be engaging in which type of integration?

Horizontal integration

Vertical integration

One benefit of vertical integration is that you no longer have to purchase all the supplies you need from another company.

True

False

One benefit of having larger and more complex corporations was that business owners could rely on traditional management strategies that they were very familiar with.

True

False

Check off all of the following that were considered major industries during the Gilded Age.

Most of the powerful corporations during the Gilded Age worked as part of trusts so that they could eliminate their competition more efficiently and effectively.

True

False

What was the ultimate goal of the stockholders in Gilded Age corporations?

To produce new products

To ensure fair working conditions for all laborers

To make a profit

To guarantee government control of the economy

What usually happens to the price of goods when they are produced in greater volumes and at faster rates?

The price goes down

The price goes up

The price stays the same

Why would a business sell stock?

To create better working conditions

To raise money 

To tax the consumers

To get better ideas for products

If a person were to buy stock in the American Tobacco Company, then they would become part owner of that company.

True

False

What would happen to most other businesses if a company like Carnegie Steel acted as a monopoly?

They would be extremely competitive with Carnegie Steel

They would take over Carnegie Steel

They would go out of business

They would pay taxes to Carnegie Steel

Monopolies were illegal during the Gilded Age.

True

False

If a monopoly drives its competition out of business, it has to keep its prices low even though it no longer has any competition.

True

False

Powerful corporations had the ability to influence the government and make sure that the laws favored them.

True

False

Businessmen who engaged in evil and corrupt business strategies were often referred to as __________.

One of the problems in the Gilded Age was that the government made so many laws for the economy that business owners could barely make a profit.

True

False

Check off all of the following actions that could have made a businessman a "captain of industry."

A trust is when one company eliminates all of its competition so that it is the only business left in the industry.

True

False

Corporations often try to take over other businesses as a way to eliminate their competition.

True

False

Match the type of integration to its definition.

Vertical Integration

When businesses buy out all of their competition

Horizontal Integration

When businesses buy all of the companies that supply them

If John D Rockefeller, the head of Standard Oil, bought out another oil company, which type of integration would he be using?

Horizontal integration

Vertical integration

If Cornelius Vanderbilt, a railroad tycoon, bought all the steel and lumber companies, he would be engaging in which type of integration?

Horizontal integration

Vertical integration

One benefit of vertical integration is that you no longer have to purchase all the supplies you need from another company.

True

False

One benefit of having larger and more complex corporations was that business owners could rely on traditional management strategies that they were very familiar with.

True

False

Check off all of the following that were considered major industries during the Gilded Age.

Steel

Radios

Oil

Sugar

Railroads

Televisions

Meat

Automobiles

Plastics

Most of the powerful corporations during the Gilded Age worked as part of trusts so that they could eliminate their competition more efficiently and effectively.

True

False

What was the ultimate goal of the stockholders in Gilded Age corporations?

To produce new products

To ensure fair working conditions for all laborers

To make a profit

To guarantee government control of the economy

What usually happens to the price of goods when they are produced in greater volumes and at faster rates?

The price goes down

The price goes up

The price stays the same

Why would a business sell stock?

To create better working conditions

To raise money 

To tax the consumers

To get better ideas for products

If a person were to buy stock in the American Tobacco Company, then they would become part owner of that company.

True

False

What would happen to most other businesses if a company like Carnegie Steel acted as a monopoly?

They would be extremely competitive with Carnegie Steel

They would take over Carnegie Steel

They would go out of business

They would pay taxes to Carnegie Steel

Monopolies were illegal during the Gilded Age.

True

False

If a monopoly drives its competition out of business, it has to keep its prices low even though it no longer has any competition.

True

False

Powerful corporations had the ability to influence the government and make sure that the laws favored them.

True

False

One of the problems in the Gilded Age was that the government made so many laws for the economy that business owners could barely make a profit.

True

False

Check off all of the following actions that could have made a businessman a "captain of industry."

Forbidding workers from striking

Using child labor

Increasing manufacturing output

Increasing workers' wages

Promoting inventions and innovations

Developing effective and efficient business methods

Destroying competition

Paying low wages

Creating new middle class

Bribing politicians and judges

Acting as philanthropists, giving money to good causes