Final Exam - - Industrial Growth

Question 1

What is the term for the turning out of large quantities of goods?

Answer 1

Mass Production

Question 2

What is it called when two or more people own a simple type of business organization?

Answer 2

Partnership

Question 3

What is the type of business organization which was small and owned by one person?

Answer 3

Individual Proprietorship

Question 4

What is the term that means the manufacturing process is divided so that each worker does only ONE job?

Answer 4

Division of Labor

Question 5

In what industry is where Andrew Carnegie made his millions?

Answer 5

Steel

Question 6

What law was passed in 1890 - and was intended to restore the free enterprise system by breaking up the large monopolies?

Answer 6

Sherman Anti-trust Act

Question 7

What term means gaining control over a field of business, - - restricting trade - reducing competition and inflating prices - - thus threatening the free enterprise system?

Answer 7

Monopoly

Question 8

What name is often used in referring to the giants of industry?

Answer 8

Moguls or Robber Baron

Question 9

How did John D Rockefeller make his millions?

Answer 9

In the Oil Industry

Question 10

What is the type of business organization - - that enables a company to buy and sell stocks to raise capital?

Answer 10

Corportation