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U6-3: Big Business #2 (1)
Test Description: SocialStudiesGames.net and SocialStudiesGames.us
Instructions: Answer all questions to get your test result.
1) Control all parts of production, thus can control price of a product
A
communism
B
vertical integration
C
horizontal integration
D
diagonal monoply
2) Who vertically integrated the Steel Making Process
A
Andrew Carnegie
B
Cornelius Vanderbilt
C
J.P. Morgan
D
John D Rockefeller
3) Which of the following wass NOT a part of Carnegie;s vertical integration (monopoly) of the steel industry?
A
control of transporation
B
control of oil refining
C
control of mining
D
control of the bessemer process
4) Andrew Carnegie: If you make a bunch of money, you should give it away or spend it to help people
A
Largesse
B
Welfare
C
Gospel of Wealth
D
Tithing
5) Controlling ALL of one part of production
A
Horizontal Integration
B
Competition
C
Diagonal Intergration
D
Vertical Integration
6) Who monopolized the oil refining industry?
A
Dale Carnegie
B
Andrew Carnegie
C
Cornelius Vanderbilt
D
John D. Rockefeller
7) Rockefeller monopolized the oil industry by SIMPLY LOWERING PRICES
A
True
B
False
8) Rockefeller monopolized the oil industry through innovation (better shipping methods and not wasting oil)
A
True
B
False
9) Which was NOT a new product from oil that was discovered by Rockefeller and his scientists?
A
Vaseline
B
Paint
C
Gasoline
D
Kerosene
10) Bascially, Rockefeller could charge low prices because he found many uses for a barrel of oil, where as his competitors could only make money off a small portion of a barrel of oil (kerosene).
A
True
B
False
11) Which best describes John D Rockefeller
A
Evil businessman
B
an innovative entrepreneur
C
Cut throat businessman
D
Unfair monopolistic robber baron
12) What was the unintended consequence of Andrew Carnegie GOSPEL OF WEALTH
A
Carnegie died poor
B
J.P. Morgan nearly monopolized the nation's railroads
C
Scots Irish are the richest cultural group in the USA
D
Rich no longer feel the need to donate to charity
*select an answer for all questions
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