History Study Guide
Stockholders elected company officials and determined company policies.
False
Farm life kept a man from being his own boss.
False
A factory worker was more in control of his own destiny than a farmer.
False
Harriman, Rockefeller, and Vanderbilt made fortunes from the railroad industry.
False
Most of the profits of corporations went into making their leaders wealthy.
False
Much of the money that went into building corporations came from shipping and trade after the Civil War.
False
The Industrial Revolution changed the life of the average worker only moderately.
False
Why were labor unions needed?
Individual workers who objected to conditions were simply fired. Unions could present a united front against employers.
Unions formed on behalf of the working man were:
NLU AFL Knights of Labor
Corporations secured large amounts of money needed to run large-scale productions.
True
Corporations were formed when several businesses or businessmen joined to form one large organization.
True
Farm work was healthier than factory work.
True
It was difficult to get ahead in factory work.
True
Stockholders shared in profits made by the corporation.
True
Working hours on the farm were long.
True
What is the act of being united?
Unification
items of property an individual or business owns
assets
the total amount of money or property owned or used by a corporation or business
capital
Factors needed for big business to be successful included:
capital mergers business specialists
The government helped combat large industries by:
controlling working hours helping small businesses
the merger of several businesses into one
corporation
Some good things done by corporations for the country were:
improving production improving distribution adding to economic development
Early unions attempted to provide:
increased pay shorter hours small-business loans
a combining of entities
merger
When a business has exclusive control of a product, it has a .
monopoly
Advantages corporations brought to America included:
reduced unemployment larger variety of goods
one who invests money in a company or corporation
stockholder
Steps to control the power of corporations were taken by:
the government labor unions President Roosevelt
What did the Industrial Age do to the average working man's creativity and imagination?
took away the average man's creativity and imagination brought about assembly lines, which eliminated creativity made it so the average working man could only take orders, not think
one having great wealth and power
tycoon
