Big Business And Industry Assessment

8 Questions
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Big Business And Industry Assessment


Questions and Answers
  • 1. 
    Which of the following best describes laissez-faire economic policy?
    • A. 

      The government should leave business alone

    • B. 

      The government should heavily regulate businesses

    • C. 

      The government should protect small businesses from failing

    • D. 

      The government should prevent big businesses from expanding

  • 2. 
    Which of the following most closely defines the word monopoly?
    • A. 

      A big business that uses its power to change government

    • B. 

      A big business that dominates an industry and has no real competition

    • C. 

      A big business that generates excessive profits

    • D. 

      A big business that files for bankruptcy

  • 3. 
    Which of the following is a positive effect of monopolies?
    • A. 

      Bribing officials to maintain dominance

    • B. 

      Keeping wages low

    • C. 

      Improving production methods

    • D. 

      Reducing competition

  • 4. 
    The Bessemer Convertercreated which material?  
    • A. 

      Pig Iron

    • B. 

      Wrought Iron

    • C. 

      Electricity

    • D. 

      Steel

  • 5. 
    Philanthropy, giving money to support worthy causes, was a characteristic of which type of wealthy industrialist?
    • A. 

      Robber Barons

    • B. 

      Captains of Industry

  • 6. 
    Andrew Carnegie was a leader of which industry?
    • A. 

      Railroads

    • B. 

      Oil

    • C. 

      Steel

    • D. 

      Electricity

  • 7. 
    Which term best represents this  definition? A group of companies managed by a group of trustees to limit competition
    • A. 

      A trust

    • B. 

      A monopoly

    • C. 

      A corporation

    • D. 

      An industry

  • 8. 
    Which of the following best represents the purpose of the Sherman Anti-Trust Act?
    • A. 

      To keep government from interfering with business

    • B. 

      To help small business create more jobs

    • C. 

      To outlaw trusts, monopolies and any form of business that restricts competition

    • D. 

      To bring an end to the Gilded Age