Gilded Age Topic 1

The correct order of Andrew Carnegie's jobs from the time he came to America to the time he died is bobbin boy, telegraph messenger boy, assistant to railroad tycoon, businessman & investor, owner of the Carnegie Steel Company, and philanthropist. Each job played a crucial role in his journey to becoming a successful businessman and one of the most generous philanthropists of his time.

Andrew Carnegie promised to retire at age 35 in order to dedicate his time and resources to philanthropy and helping those in need.

Carnegie's success in the Steel Business primarily stemmed from his strategic use of the Bessemer process for steel production, along with his emphasis on maintaining low employee wages to maximize profits.

Henry Clay Frick was a prominent industrialist who played a controversial role during the Homestead Strike of 1892.

J.P. Morgan bought out Carnegie Steel, creating the U.S. Steel Corporation, one of the largest business deals in history.

During the Gilded Age, industrial workers faced harsh working and living conditions due to the rapid industrialization and growth of factories. They were often paid low wages, worked long hours in dangerous environments, and lived in crowded, unsanitary housing. The incorrect answers provided portray a much more favorable and unrealistic scenario for industrial workers during this time period.

The Bessemer Process was a significant method used in steelmaking, not related to gold extraction, glass production, or paper manufacturing.

The Bessemer Process revolutionized steel production by making it more affordable and widely available, contributing to the growth of industries that relied on steel for construction and transportation.

Investing involves committing money to a business or financial product with the expectation of generating future profits. Whereas donating involves giving money without expecting financial returns, loaning involves providing money with the expectation of getting back the exact amount loaned plus interest, and sponsoring typically involves providing financial support in exchange for publicity or promotional benefits.

A tycoon refers to an individual who has amassed great wealth and power through their success in business ventures.

Capitalism is an economic system where private individuals or businesses own the means of production and operate for profit. In contrast, socialism involves collective or government ownership and control of the means of production. Communism aims for a classless society where the means of production are owned and controlled by the community as a whole. Fascism typically involves a dictatorial government controlling both the economy and social aspects of life.

John D. Rockefeller is widely known for his philanthropic efforts, including the establishment of the Rockefeller Foundation and various other charitable contributions.

An oil prospector is primarily involved in locating oil reserves through drilling, whereas an oil refiner processes crude oil into usable products for consumers. The incorrect answers provided depict inaccurate distinctions between the roles of an oil prospector and an oil refiner.

A monopoly occurs when there is exclusive ownership of a product or service by a single person or entity, leading to no competition in the market.

A profitable business is one that ultimately ends up with a positive net income after deducting all expenses from its revenue.

Profit is the net income of a business after deducting all expenses from total revenue.

In the mid-19th century, Edwin Drake successfully drilled the first commercial oil well in the United States and opened the door to the Pennsylvania Oil Rush. John Rockefeller, Andrew Carnegie, and Henry Ford were also prominent figures in American history, but they were not directly involved in the Pennsylvania Oil Rush.

John D. Rockefeller's initial involvement in the oil business was through a deceptive act where he misled his employers into not investing in oil, allowing him to take advantage of the opportunity himself.

John D. Rockefeller was a key figure in the Gilded Age known for his ownership of Standard Oil and dominance in the oil industry. Andrew Carnegie, J.P. Morgan, and Cornelius Vanderbilt were also prominent industrialists during this time period, but did not have the direct connection to the oil business as Rockefeller did.

The correct answer indicates that the publishers initially did not consider the book to be of good enough quality to publish.

Judy Garland is the correct answer as she famously played Dorothy Gail in the classic movie The Wizard of Oz. Marilyn Monroe, Audrey Hepburn, and Grace Kelly were all iconic actresses, but none of them were cast as Dorothy Gail in The Wizard of Oz.

L. Frank Baum initially worked as the owner of Baum's Bazaar General Store in a gold boom town in South Dakota, not as a school teacher, miner, or politician.

L. Frank Baum's first job was as a salesman for Baum's Casterine Company selling machine grease.

L. Frank Baum came up with the name Oz after he saw a filing cabinet in the room with the label O - Z, which sparked his imagination.

The correct answer is satire. Satire is a form of writing that uses humor, irony, exaggeration, or ridicule to expose and criticize people's stupidity or vices, particularly in the context of contemporary politics and other topical issues. In the scenario described, Baum's use of satire in the newspaper article mocking another author led to the challenge to a duel.

L. Frank Baum was not known for his wealth or involvement in serious industries like Carnegie and Rockefeller. Instead, he was a humble author known for his whimsical works.

After Baum's business failed in South Dakota, he took on the job of a newspaper owner, writer, and editor. This career change marked the beginning of his successful writing and publishing career.

After taking out a loan and self-publishing the Wonderful Wizard of Oz, Baum's books became incredibly popular, being translated into many languages and adapted into plays and movies.