Big Business And Industry Assessment
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- 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
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