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