Industrial Revolution in the U.S.
Quiz by Rachel
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18 questions
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- Q1Which transportation system was significantly expanded during the Industrial Revolution in the United States?Bicycle lanesAirportsSubwaysRailroads30s
- Q2What was the name of the steel tycoon who dominated the American steel industry during the Industrial Revolution?P. MorganHenry FordJohn D. RockefellerAndrew Carnegie30s
- Q3Which industrialist is known for revolutionizing the automobile industry in the United States during the early 20th century?Bill GatesSteve JobsElon MuskHenry Ford30s
- Q4Which of the following best describes a monopolist?A company that is the sole provider of a specific product or service in the marketA company that focuses on customer satisfactionA company that sells multiple different products or servicesA company that competes with many others in a market30s
- Q5What is a common characteristic of monopolists?They have many competitorsThey offer products at low pricesThey have the ability to control prices in the marketThey are always focused on innovation30s
- Q6Why might a monopolist charge higher prices than a competitive market?To support local businesses in the communityBecause they have little to no competition to drive prices downTo attract more customers with premium pricingTo promote fair competition in the market30s
- Q7What is a potential downside of a monopoly?Reduced incentive for innovation and improvementLower prices for consumersGreater variety of product choicesIncreased competition in the market30s
- Q8How does a monopolist's market power impact consumers?It has no effect on consumer choicesIt promotes healthy competition in the marketIt can lead to higher prices and lower quality products or servicesIt usually results in lower prices and higher quality products30s
- Q9What industry was John D. Rockefeller primarily associated with?AutomobileTextileAgricultureOil30s
- Q10What is horizontal integration?When a company expands its operations globallyWhen a company acquires or merges with a company in a different industryWhen a company focuses on vertical expansionWhen a company acquires or merges with another company in the same industry30s
- Q11What is a robber Baron?A type of medieval knightA government official overseeing financial transactionsA philanthropist who donated to charityA wealthy businessman who used unethical practices to amass their fortune.30s
- Q12How did trusts contribute to the rise of monopolies during the late 19th and early 20th centuries?Trusts allowed large corporations to consolidate power, limit competition, and control prices, ultimately leading to the formation of monopolies.Trusts encouraged small businesses to thrive and compete against each other in a healthy market environment.Trusts promoted consumer choice and ensured fair prices for goods and services.Trusts had no impact on market competition or the formation of monopolies.30s
- Q13The creation of the transcontinental railroad led to a population boom in what region of the U.S?The WestThe SouthThe NorthThe East30s
- Q14What was the main goal of the Sherman anti-trust act?To prevent the formation of monopolies and promote fair competitionTo establish government-controlled industriesTo increase taxation on businessesTo provide subsidies to small businesses30s
- Q15What was the result of the 1911 Triangle Shirtwaist Factory Fire?Increase in factory profits
several states passed laws protecting factory workers
Closure of all factoriesDecrease in workers' rights30s