12 monopoly (1)
Transcript of 12 monopoly (1)
12
Monopoly
I. Market Economics.
A. Adam Smith: The Wealth of
Nations.
B. Laissez-faire.
C. Competition is the Invisible Hand.
II. Monopoly.
B. Andrew Carnegie: U.S. Steel
Corporation.
C. John D. Rockefeller: Standard
Oil Trust.
III. The Robber Barons.
A. wage slaves.
B. The Triangle Shirtwaist Fire.
IV. The Philanthropists.
A. The Gospel of Wealth.
B. private charity.
Conclusion: The industrialists were
creating a modern version of nobility.
Quiz 12
1. What was the nickname of
manufacturing facilities like the
Triangle Shirtwaist Company?
2. What was the most impoverished
immigrant neighborhood in New York
City?
3. What was the nickname given to
business tycoons like Rockefeller and
Carnegie?
4. What is the name of the period when
the rapid increase in urbanization and
industrialization were radically
changing the way people lived?
5. According to Adam Smith, what
motivates people to be productive
members of society?
6. How did liberal immigration policies
benefit the Robber Barons?
7. Why were tycoons like Rockefeller,
Carnegie, and Vanderbilt called
“Robber Barons”?
*they robbed banks
*their lives resembled that of nobles
*they inherited wealth
*they were of noble birth
8. What would typically happen to a
factory worker who complained about
long hours and low pay?
*he’d receive a wage increase
*he’d be hanged
*he’d be arrested
*he’d be fired
9. What did Carnegie and Rockefeller
believe was the best way to help
those in need?
*private charity
*government welfare
*whips and chains
*military force
10. Why did Carnegie and Rockefeller
donate money to build schools and
libraries?
11. Which of the following was a thesis
of Carnegie’s Gospel of Wealth?
*greed
*federal welfare
*philanthropy
*wage slavery
12. Who wrote this book?
13. Who is this man?
14. Who is this man?
15. What is the nickname for this type
of factory?
16. What did critics of the Robber
Barons call these types of workers?
17. What was another nickname
(besides Robber Barons) given to
men like Carnegie and Rockefeller?
*subjects
*philanthropists
*wage slaves
*child laborers
18. What is it called when a company is
able to corner the market on a
particular good or service?
19. According to Carnegie’s Gospel of
Wealth, what should a wealthy person
do during the last third of his life?
*earn money
*get an education
*give money away
*destroy people
20. What negative effect of
industrialization is illustrated by this
image?
1. What was the nickname of
manufacturing facilities like the
Triangle Shirtwaist Company?
sweatshops
2. What was the most impoverished
immigrant neighborhood in New York
City? Lower East Side
3. What was the nickname given to
business tycoons like Rockefeller and
Carnegie? Robber Barons
4. What is the name of the period when
the rapid increase in urbanization and
industrialization were radically
changing the way people lived?
Industrial
Revolution
5. According to Adam Smith, what
motivates people to be productive
members of society? competition
6. How did liberal immigration policies
benefit the Robber Barons?
Increased
competition
among the
workers.
7. Why were tycoons like Rockefeller,
Carnegie, and Vanderbilt called
“Robber Barons”?
*they robbed banks
*their lives resembled that of
nobles
*they inherited wealth
*they were of noble birth
8. What would typically happen to a
factory worker who complained about
long hours and low pay?
*he’d receive a wage increase
*he’d be hanged
*he’d be arrested
*he’d be fired
9. What did Carnegie and Rockefeller
believe was the best way to help
those in need?
*private charity
*government welfare
*whips and chains
*military force
10. Why did Carnegie and Rockefeller
donate money to build schools and
libraries? they provide people with
the opportunity to help
themselves
11. Which of the following was a thesis
of Carnegie’s Gospel of Wealth?
*greed
*federal welfare
*philanthropy
*wage slavery
12. Who wrote this book?
Adam Smith
13. Who is this man?
John D. Rockefeller
14. Who is this man?
Andrew Carnegie
15. What is the nickname for this type
of factory? sweatshop
16. What did critics of the Robber
Barons call these types of workers?
wage slaves
17. What was another nickname
(besides Robber Barons) given to
men like Carnegie and Rockefeller?
*subjects
*philanthropists
*wage slaves
*child laborers
18. What is it called when a company is
able to corner the market on a
particular good or service?
monopoly
19. According to Carnegie’s Gospel of
Wealth, what should a wealthy person
do during the last third of his life?
*earn money
*get an education
*give money away
*destroy people
20. What negative effect of
industrialization is illustrated by this
image? pollution