806 Quiz 2 - Changing Frontiers

Question 1

Alexander Graham Bell

Answer 1

invented the telephone

Question 2

Cornelius Vanderbilt

Answer 2

used dishonest methods to create a railroad monopoly

Question 3

Edwin Drake

Answer 3

built the first oil well in the US

Question 4

Henry Bessemer

Answer 4

better steel making processes

Question 5

Henry Ford

Answer 5

popularized the assembly line

Question 6

John D. Rockefeller

Answer 6

created a huge oil monopoly

Question 7

J.P. Morgan

Answer 7

created the greatest steel monopoly of his time

Question 8

Thomas Edison

Answer 8

well known for inventing the lightbulb and phonograph

Question 9

Proprietor

Answer 9

Owner of a business that takes all profits and losses

Question 10

Stockholder

Answer 10

A person who owns part of a business but risks only the money he invested

Question 11

Partnership

Answer 11

business owned by two or more people (share all profit and loss)

Question 12

Dividends

Answer 12

percent of profits a company gives to its stockholders

Question 13

Stocks

Answer 13

shares in a business

Question 14

Corporation

Answer 14

company that sells shares to investors

Question 15

Company that sells shares to investors

Answer 15

Corporation

Question 16

Percentage of profits a business gives its stockholders

Answer 16

Dividends

Question 17

A business owned by two or more people who share all profit and loss

Answer 17

Partnership

Question 18

Owner of a business who takes all profit and loss

Answer 18

Proprietor

Question 19

Shares of a business

Answer 19

stocks

Question 20

a person who owns part of a business but risks only the money he invested

Answer 20

Stockholder

Question 21

Who invented the telphone

Answer 21

Alexander Graham Bell

Question 22

Who formed a large railroad monopoly by using dishonest methods?

Answer 22

Cornelius Vanderbuilt

Question 23

Who built the first oil well in the US

Answer 23

Edwin Drake

Question 24

Who designed a better process for making steel?

Answer 24

Henry Bessemer

Question 25

Who made the assembly line more poplar

Answer 25

Henry Ford

Question 26

Who formed an oil monoploy

Answer 26

John D. Rockefeller

Question 27

Who formed the largest steel monopoly of his time?

Answer 27

J.P. Morgan

Question 28

Who invented the lightbulb and phonograph

Answer 28

Thomas Edison

Question 29

What are three components of mass production?

Answer 29

interchangeable parts, division of labor, assembly line

Question 30

Three parts of the economic cycle that occurred in the United States in the late 1800’s early 1900s (in order)

Answer 30

Boom, panic, depression

Question 31

Stores that combine under one management are called?

Answer 31

Chain Store

Question 32

A store that has different departments in it (outdoor, groceries, etc)?

Answer 32

Department Store

Question 33

A company that controls other businesses by owning a majority of the stock…

Answer 33

Holding company

Question 34

A group of business that set low prices to force other companies out of business…(now illegal)

Answer 34

Trusts

Question 35

A company that is the only supplier of a product in a given area is called what?

Answer 35

Monopoly

Question 36

Labor Unions were formed for?

Answer 36

combatting unsafe working conditions, increase wages, decrease working hours per day

Question 37

Formed large groups to force employers to pay attention to their claims…

Answer 37

Labor Unions