Industrial Revolution Quiz-US History

Takes no action on corporate mergers

Example of the government using laissez-faire economics

Developed a less expensive method of producing cars

Henry Ford produced a more affordable car primarily because his company did this

Assembly Line

Henry Ford's significant contribution to the industrialization of the United States

Creating monopolies

How businesses tried to maximize profits in the late 19th century

Reduced cost of goods

Immediate economic result of the use of mass production techniques in American factories

Social Darwinism

In the late 1800s, this idea was used most often to justify the elimination of business competition

Growth of American industry

In the latter half of the 1800s, a large labor supply, an abundance of natural resources, and the construction of new railroads contributed most directly to this

Mass production

Manufacture of large quantities of a product quickly and cheaply

An increase in agricultural productivity

One effect of the Industrial Revolution on United States agriculture in the late 1800s

Growth of trusts and monopolies.

Result of the US using laissez-faire economics in the late 19th century

Eliminated competition using ruthless methods

The term robber baron was used to describe some owners of big businesses primarily because they often did this

Horizontal integration

Type of monopoly where a company buys out all of its competition. John Rockefeller would do this to take control of the oil industry