History 1007 Self Test 2

false

(T/F) By the early 1900s in the United States, the New England and Middle Atlantic states led in manufacturing

true

(T/F) Factories were first powered by water and later by steam

true

(T/F) Ford's assembly-line production greatly reduced cost per unit

true

(T/F) Major goals of corporations were to eliminate competition and to increase profits

true

(T/F) Monasteries established a pattern for industry in discipline and in specific work responsibilities

false

(T/F) Stockholders chose directors and enforced company policies

true

(T/F) The Crusades revived European interest in trade and travel

false

(T/F) The Embargo Act of 1807 hindered manufacturing in the United States

true

(T/F) The War of 1812 increased production in the United States

true

(T/F) The system of standardized parts made possible the replacing of broken or worn parts instead of the whole product

capital

A necessity for beginning industry is the investment of _____.

a. industrial b. agrarian or agricultural

At the time of the Civil War, the Northern economy was a. _____, but the Southern economy was largely b. _____.

Fulton

Clermont

1, 3, 4

Corporations found success in using 1. modernized machinery 2. fewer workers 3. superior production methods 4. disciplined organization and management (Choose all that apply)

1, 2, 4, 5, 6

Early American industry was given a boost by 1. the Embargo Act 2. new production methods 3. corporations stifling competition 4. war 5. transportation & communication improvements 6. new power sources (Choose all that apply)

1, 2, 3

Early European factors that led to the birth of industry were 1. the Crusades 2. monasteries 3. early capitalism 4. feudalism (Choose all that apply)

1, 2, 4, 5

Measures controlling the practices of corporations included 1. the Federal Trade Commission 2. the antitrust laws 3. consolidation 4. the Clayton Antitrust Act 5. labor laws (Choose all that apply)

1, 3, 4

Requirements for a nation to become industrialized included 1. rich, natural resources 2. monopolies 3. many workers 4. sufficient investment capital (Choose all that apply)

steam

The 'Tom Thumb' and the 'Clermont' were examples of the use of _____ power in transportation.

England

The European nation taking the lead in industry was _____.

Cumberland Road

The United States' first national road was called the _____.

monopoly

The exclusive control of a product by a business is called a _____ of that product.

Erie Canal

The first canal in the United States was the ____.

New England businessmen

The main investors in the early industry of the United States were _____.

consolidation

The merging of several businesses into one is called _____.

Industrial Revolution

The world-wide change from manual labor to machines was called the _____.

Cooper

Tom Thumb

Corporations lowered unemployment and supplied a larger variety of better quality goods at lower cost per unit. They also gave Americans the opportunity to share the profits by investing.

What advantages did corporations bring to the economy of the United States?

America possessed an abundant working class, natural resources, and investors willing to risk their capital by backing American industry. Also, America's desire to prove herself to England was a psychological factor.

What factors and attitudes made the United States ripe for industrial growth?

Stockholders invested their capital in corporations, giving financial backing in exchange for a share of the profits made, and elected corporation officials.

What part did stockholders play in corporations?

Water power was still used to power many factories, steam drove many machines and transportation methods by use of coal or oil, and electricity was used for lighting and power in factories, and for telegraph and telephone communication.

What sources of power were available to industry by the early 1900s?

Wright

airplane

Ford

assembly-line production

McAdam

improved road construction

Edison

light bulb

Drake

oil well

McCormick

reaping machine

Howe

sewing machine

Whitney

standardized parts

Watt

steam engine

Bell

telephone

Field

transatlantic cable