Business and Labor

Question 1

Leader of the American Railway Union
a. Eugene debs
b. Andrew Carnegie
c. John D. Rockfeller

Answer 1

a. Eugene debs

Question 2

Scottish immigrant who became a giant in the steel industry
a. Eugene debs
b. Andrew Carnegie
c. John D. Rockfeller

Answer 2

b. Andrew Carnegie

Question 3

Theory that taught only the strong survived
a. Survival of the fittest theory
b. Social darwinism

Answer 3

b. Social darwinism

Question 4

Law that outlawed trust

Answer 4

The Sherman Antitrust Act

Question 5

Process in which a company buys out its suppliers
a. vertical integration
b. horizontal integration

Answer 5

a. vertical integration

Question 6

Process in which a company producing similar products merge
a. vertical integration
b. horizontal integration

Answer 6

b. horizontal integration

Question 7

One way in which carnigie tried to control the steel industry
a. by buying out companies that supplied his raw materials such as iron and steel
b. by selling to companies that supplied his raw materials such as iron and coal

Answer 7

a. by buying out companies that supplied his raw materials such as iron and steel

Question 8

Why did entrepreneurs form trusts
a. To control competition

Answer 8

a. To control competition

Question 9

What was a goal of many entrepreneurs in regards to their competition?
a. to form a monopoly by buying out their competitors or driving them out of business
b. to form a monopsony, where there are many sellers and one buyer

Answer 9

a. to form a monopoly by buying out their competitors or driving them out of business

Question 10

What was one type of union?
a. craft union
b. solidified unions

Answer 10

a. craft union