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Industrial Revolution
Quiz by Chris Ward
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16 questions
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- Q1Supporters of laissez-faire generally oppose subsides and favortariffsfree trademonopolieshigh prices30s
- Q2By the early 1900s, Americans had transformed the United States into the world's leadingmilitary establishmentgross national productlaissez-faire countryindustrial nation30s
- Q3What were equally as important as natural resources in the nation's rapid industrialization ?political systemstariffshuman resourcesAdvancement in technology30s
- Q4What were the causes of the Industrial Revolution ?United States had a ton of natural resourceslaissez-fair economics in the United StatesRise in population that allowed United State the ability to meet the demand of labor needed in order to Industrial AmericaAll of above30s
- Q5"let do" a French phrase meaning "let people do as they choose"laissez-faireMorrill Tariffgross national productentrepreneurs30s
- Q6One reason for America's Industrial success is itssmall workforceabundant raw materialswide open spacesaccess to oceans30s
- Q7According to the concept of laissez-faire, prices and wages are regulated bythe GNPgovernmentthe GNPsupply and demand30s
- Q8What was the primary reasons that poor Europeans emigrated to the United States?to escape persecutionto an educationto break away from Europe's class systemto gain a sense of individualism30s
- Q9Combining many firms engaged in the same type of business into one corporation is calledvertical intergrationa monopolyhorizontal intergrationpools30s
- Q10define vertical integrationagreement to maintain high prices at a certain levelwhen a single company achieves control of an entire marketwhen a company combines many firms engaged in the same type of business into a corporationwhen a company owns all the different businesses on which it depends for it operation30s
- Q11Andrew Carnegie formed a monopoly in the ______________________ industry.SteelTextileElectricOil30s
- Q12When a company buys out all of its competitors to be a monopoly, that company is practicing ______________________________ integration.HorizontalIndustrialVerticalMonopolistic30s
- Q13When company buys out all the suppliers of its product to be a monopoly, that company is practicing ______________________________ integrationIndustrialHorizontalMonopolisticVertical30s
- Q14John D. Rockefeller is most associated with which industry?SteelOilElectricTextile30s
- Q15Who used the biological theory of Darwinism to attempt to explain occurrences within the economy?Charles DarwinHerbert SpencerJ.P. MorganThomas Edison30s