U.S History Chapter 9
Quiz to study for chapter 9 test in u. S history including vocab words
Questions and Answers
- 1.
Total value of all goods
- A.
Laissez-fair
- B.
Pool
- C.
Holding company
- D.
Gross national product
Correct Answer
D. Gross national productExplanation
The correct answer is "gross national product". Gross national product refers to the total value of all goods and services produced by a country's residents, both domestically and abroad, within a specific time period. It is a measure of the economic output of a country and is used to assess the overall health and growth of the economy.Rate this question:
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- 2.
French "let people do as they choose" dont believe in interference from government except for protection for propertyh
- A.
Economies of scale
- B.
Trust
- C.
Deflation
- D.
Laissez- faire
Correct Answer
D. Laissez- faireExplanation
Laissez-faire is the correct answer because it aligns with the statement that the French believe in letting people do as they choose and do not believe in government interference, except for protecting property. Laissez-faire is an economic philosophy that advocates for minimal government intervention in the economy, allowing individuals and businesses to operate freely without excessive regulations or controls. This concept promotes economic freedom and believes that markets should be left to self-regulate, leading to efficient allocation of resources and overall economic growth.Rate this question:
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- 3.
People who risk capital running a business.
- A.
Time zone
- B.
Entrepreneur
- C.
Vertical
- D.
Marxism
Correct Answer
B. EntrepreneurExplanation
Entrepreneurs are individuals who take on the risk of investing their own capital to start and run a business. They are willing to take financial risks in order to pursue their ideas and create innovative products or services. Entrepreneurs are known for their ability to identify opportunities, organize resources, and take calculated risks to achieve success in their ventures. They play a crucial role in driving economic growth and job creation in society.Rate this question:
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- 4.
American railway association divided country in 4 where same time was kept
- A.
Time zone
- B.
Arbitration
- C.
Closed shop
- D.
Horizontal integration
Correct Answer
A. Time zoneExplanation
The American Railway Association divided the country into four time zones to ensure that the same time was kept across different regions. This was necessary because before the establishment of time zones, each city and town had its own local time based on the position of the sun. This caused confusion and made it difficult to coordinate train schedules and transportation. By dividing the country into time zones, it allowed for a standardized and synchronized time system, making it easier for railways and other industries to operate efficiently.Rate this question:
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- 5.
Given by federal gov to railroad companies
- A.
Trust
- B.
Monopoly
- C.
Land grant
- D.
Deflation
Correct Answer
C. Land grantExplanation
The correct answer is "land grant" because during the 19th century, the federal government provided large amounts of land to railroad companies as an incentive to encourage the construction of railroads across the country. These land grants allowed the companies to sell or lease the land to generate revenue, which helped finance the building of the railroads. This policy played a crucial role in the expansion of the railroad network in the United States.Rate this question:
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- 6.
Organization owned by many people
- A.
Deflation
- B.
Trade union
- C.
Lockout
- D.
Corporation
Correct Answer
D. CorporationExplanation
A corporation is a type of organization that is owned by multiple people, known as shareholders. It is a legal entity that operates independently from its owners and has its own rights and responsibilities. Corporations are formed to conduct business activities and can generate profits, which are then distributed to the shareholders in the form of dividends. This structure allows for the pooling of resources and the sharing of risks among the shareholders, making it a popular choice for large-scale businesses.Rate this question:
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- 7.
Corporations make goods faster and more cheaply
- A.
Economies of scale
- B.
Pool
- C.
Industrial union
- D.
Closed shop
Correct Answer
A. Economies of scaleExplanation
Economies of scale refer to the cost advantages that corporations can achieve when they increase their production levels. By producing goods in larger quantities, corporations can benefit from lower average costs per unit, as fixed costs are spread over a larger output. This enables them to reduce their production costs and offer goods at a lower price. Economies of scale allow corporations to be more efficient and competitive in the market, as they can produce goods faster and more cheaply than smaller competitors.Rate this question:
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- 8.
Costs a company has to pay whether it is operating or not.
- A.
Operating costs
- B.
Industiral union
- C.
Fixed costs
- D.
Gross national product
Correct Answer
C. Fixed costsExplanation
Fixed costs are expenses that a company has to pay regardless of whether it is operating or not. These costs do not vary with the level of production or sales and are incurred regardless of the company's activity. Examples of fixed costs include rent, salaries, insurance, and utilities. These costs are essential for the company to exist and are not directly tied to the company's production or sales volume.Rate this question:
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- 9.
Paying wages, shopping costs and buying raw materials
- A.
Holding company
- B.
Industiral union
- C.
Operating cost
- D.
Trust
Correct Answer
C. Operating costExplanation
Operating cost refers to the expenses incurred by a company in its day-to-day operations. This includes paying wages to employees, covering shopping costs for necessary supplies, and buying raw materials for production. These expenses are essential for the company to keep running and producing goods or services. Therefore, operating cost is the most appropriate term among the options provided to describe these types of expenses.Rate this question:
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- 10.
Agreements to maintain prices at a certain level
- A.
Pool
- B.
Trust
- C.
Lockout
- D.
Closed shop
Correct Answer
A. PoolExplanation
A pool refers to an agreement among businesses or individuals to combine their resources or efforts to achieve a common goal. In the context of the given answer, a pool can be understood as an agreement among competitors to maintain prices at a certain level. This could involve businesses agreeing to set a minimum price or to prevent prices from falling below a certain threshold. By doing so, they can avoid price competition and maximize their profits collectively.Rate this question:
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- 11.
Combining many firms involved in the same type of business into one large corporation.
- A.
Vertical integration
- B.
Horizontal integrationq
- C.
Trust
- D.
Corporation
Correct Answer
B. Horizontal integrationqExplanation
Horizontal integration refers to the process of combining many firms involved in the same type of business into one large corporation. This allows the corporation to expand its market share, increase its economies of scale, and gain a competitive advantage over its rivals. By merging with or acquiring other companies in the same industry, the corporation can eliminate competition, reduce costs, and improve efficiency. Horizontal integrationq, which may be a typographical error, does not have any known meaning or relevance in this context.Rate this question:
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- 12.
Joining of different types of businesses that are involved inteh operation of a particular company
- A.
Vertical
- B.
Horizontal
- C.
Lockout
- D.
Marxism
Correct Answer
A. VerticalExplanation
Vertical integration refers to the joining of different types of businesses that are involved in the operation of a particular company. This means that a company acquires or merges with businesses that are either suppliers or customers, in order to control the entire supply chain and gain more control over costs, quality, and distribution. This allows for better coordination, efficiency, and potentially higher profits.Rate this question:
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- 13.
Achieves control of entire market
- A.
Industiral union
- B.
Trust
- C.
Monopoly
- D.
Pool
Correct Answer
C. MonopolyExplanation
A monopoly refers to a situation where a single company or entity has complete control over a particular market. This means that there are no other competitors or alternatives available for consumers. In a monopoly, the company can dictate prices, control supply and demand, and ultimately have significant power and influence over the market. Therefore, achieving control of the entire market is synonymous with having a monopoly.Rate this question:
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- 14.
Legal concept that allows a person to manage another person's property
- A.
Trust
- B.
Fixed cost
- C.
Pool
- D.
Corporation
Correct Answer
A. TrustExplanation
A trust is a legal concept that allows a person, known as the trustee, to manage and hold another person's property, known as the trust property, for the benefit of a third party, known as the beneficiary. This arrangement is established through a legal document called a trust agreement, where the trustee is given the authority and responsibility to manage the trust property according to the terms and conditions outlined in the agreement. The purpose of a trust is to ensure the proper management and protection of assets, and to distribute them to the beneficiaries in accordance with the wishes of the person who created the trust, known as the settlor.Rate this question:
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- 15.
Owns stocks of companies
- A.
Closed shop
- B.
Holding company
- C.
Deflation
- D.
Operating cost
Correct Answer
B. Holding companyExplanation
A holding company is a type of business organization that owns stocks of other companies. It does not engage in day-to-day operations but rather holds ownership interests in various subsidiaries. This allows the holding company to exercise control over these subsidiaries and potentially benefit from their profits. By diversifying its portfolio of stocks, a holding company can mitigate risk and potentially increase its overall wealth. Therefore, the given answer, "holding company," correctly describes a business entity that owns stocks of companies.Rate this question:
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- 16.
Rise in value of money
- A.
Economies of scale
- B.
Time zone
- C.
Arbitration
- D.
Deflation
Correct Answer
D. DeflationExplanation
Deflation refers to a decrease in the general price level of goods and services in an economy over a period of time. It occurs when there is a decrease in the supply of money or credit, causing a reduction in consumer spending. This leads to a decline in demand, which in turn lowers prices. Deflation can have various effects on an economy, including increased unemployment, reduced investment, and a decrease in overall economic activity. Therefore, the given answer "deflation" is correct as it accurately describes a situation where the value of money rises due to a decrease in prices.Rate this question:
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- 17.
Unions limited to people with specific skills
- A.
Industrial union
- B.
Marxism
- C.
Trade union
- D.
Closed shop
Correct Answer
C. Trade unionExplanation
A trade union is a type of union that is limited to people with specific skills or working in a particular trade or industry. Unlike industrial unions, which include workers from various industries, trade unions focus on representing the interests of workers within a specific trade or occupation. Marxism, on the other hand, is a political and economic theory that advocates for the collective ownership of the means of production. A closed shop refers to a workplace where only union members can be hired, which is a different concept from trade unions.Rate this question:
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- 18.
United all craft workers and common laborers
- A.
Industrial union
- B.
Holding company
- C.
Pool
- D.
Corporation
Correct Answer
A. Industrial unionExplanation
An industrial union is the correct answer because it refers to an organization that unites all craft workers and common laborers within a particular industry. Unlike other options such as a holding company, pool, or corporation, an industrial union specifically focuses on representing and advocating for the rights and interests of workers in a specific industry. This type of union aims to improve working conditions, negotiate better wages and benefits, and protect the rights of its members through collective bargaining and other means.Rate this question:
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- 19.
Locked workers out of property and refused to pay them
- A.
Marxism
- B.
Closed shop
- C.
Deflation
- D.
Lockout
Correct Answer
D. LockoutExplanation
A lockout refers to a situation where employers prevent workers from entering the workplace and refuse to pay them. This action is typically taken as a response to a labor dispute or as a bargaining tactic. The employers essentially "lock out" the workers as a means of exerting pressure or gaining leverage in negotiations. In this scenario, the correct answer is lockout because it accurately describes the situation where workers are denied access to their workplace and denied payment.Rate this question:
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- 20.
Impartial 3rd party helps workers and management reach an agreement
- A.
Pool
- B.
Trust
- C.
Arbitration
- D.
Closed shop
Correct Answer
C. ArbitrationExplanation
Arbitration is the correct answer because it refers to the process where an impartial third party helps workers and management reach an agreement. In arbitration, a neutral person or panel listens to both sides of the dispute and makes a decision that is binding for both parties. This process is often used in labor disputes or contract negotiations to resolve conflicts and avoid going to court.Rate this question:
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