1. Which type of business organization is being criticized in this cartoon?
(2) multinational corporation
2. What is the main idea of this cartoon?
(1) The Standard Oil Company was a harmful monopoly.
(2) The best way to develop major industries was to form proprietorships.
(3) Government regulations were strangling the Standard Oil Company.
(4) Foreign competition in the oil industry was hurting American companies.
3. Which economic concept is best illustrated by the cartoon?
(1) supply and demand
4. The term business monopoly can best be described as
(1) the most common form of business in the United States
(2) government control of the means of production
(3) an agreement between partners to manage a corporation
(4) a company that controls or dominates an industry
5. In the late 19th century, owners of big businesses generally embraced Social Darwinism because it reinforced their belief that
(1) economic success demonstrates fitness to lead
(2) business monopolies are contrary to the social order
(3) all wealth should be returned to society
(4) economic competition should be regulated
6. The 19th-century philosophy of Social Darwinism maintained that
(1) the government should have control over the means of production and the marketplace
(2) all social class distinctions in American society should be eliminated
(3) economic success comes to those who are the hardest working and most competent
(4) wealth and income should be more equally distributed
7. “The growth of a large business is merely survival of the fittest. The American beauty rose can be produced in the splendor and fragrance which bring cheer to its beholder only by sacrificing the early buds which grow up around it. This is not an evil tendency in business. It is merely the working out of a law of nature and a law of God. . . .”
— John D. Rockefeller, Jr.
Which concept is described by this passage?
(3) utopian socialism
(4) Social Darwinism
8. During the late 1800s, the principles of Social Darwinism were used to justify
(1) support for unlimited immigration
(2) desegregation of public facilities
(3) the use of strikes by organized labor
(4) the accumulation of great wealth by industrialists
9. Which idea of the late 1800s is most closely associated with this cartoon?
(1) regulated capitalism
(2) graduated income tax
(3) Social Darwinism
(4) the Gospel of Wealth
10. Which 19th-century business practice does this cartoon illustrate?
(1) forming cooperatives
(2) establishing trade zones
(3) creating monopolies
(4) expanding global markets
11. According to the cartoon, how was the United States in the 1990s similar to the United States in the 1890s?
(1) Little need existed for government regulation.
(2) Investment in the stock market decreased.
(3) The price of petroleum products decreased.
(4) Business consolidation was accepted practice.
12. Industrialists of the late 1800s contributed most to economic growth by
Base your answers to questions 5 and 6 on the speakers’ statements below and on your knowledge of social studies.
Speaker A: “When demand ran high, and markets were scarce, he showed little mercy,
broke his contracts for delivery and raised prices.”
Speaker B: “The man of wealth must hold his fortune ‘in trust’ for the community and
use it for philanthropic and charitable purposes.”
Speaker C: “It is cruel to slander the rich because they have been successful. They have
gone into great enterprises that have enriched the nation and the nation has enriched them.”
Speaker D: “The fruits of the toil of millions are boldly stolen to build up colossal
fortunes for the few, unprecedented in the history of mankind.”
5. Which two speakers would most likely label late 19th-century industrialists as robber barons?
(1) A and B
(2) A and D
(3) B and C
(4) C and D
6. The most valid conclusion that can be drawn from the different viewpoints of these speakers is that industrialists of the late 19th century
(1) benefited and harmed society
(2) treated their workers fairly
(3) used illegal means to gain wealth
(4) generally opposed the free-enterprise economic system
7. What is the main idea of the cartoon?
(1) Government policies have created a recession.
(2) Americans support the activities of trusts.
(3) Good government has saved the country from trusts.
(4) Trusts are a threat to the nation.
8.“The man who dies rich dies disgraced.” Andrew Carnegie carried out the ideas expressed in this statement by
(1) funding numerous libraries and educational institutions
(2) serving many years in the federal government
(3) investing his fortune in several new industries
(4) promoting programs to benefit the wealthy
Base your answers to questions 9 on the passage below and on your knowledge of social studies.
“. . . This, then, is held to be the duty of the man of Wealth: First, to set an example of modest,
unostentatious living, shunning display or extravagance; to provide moderately for the legitimate wants of those dependent upon him; and after doing so to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community— . . .” — Andrew Carnegie, “Wealth,” North American Review, June 1889
9. According to this passage, the responsibility of the wealthy is to
(1) invest in future industry to increase wealth
(2) share their excess wealth with the community
(3) maintain a lifestyle consistent with their wealth
(4) influence government to assist all people
10. A significant contribution to the industrialization of the United States was Henry Ford’s development of
(1) the assembly line
(2) electric-powered vehicles
(3) the first holding company
(4) a new process for making steel
11. Henry Ford produced a more affordable car primarily because his company
(1) paid workers lower wages than its competitors paid
(2) used foreign-made parts
(3) developed a less expensive method of production
(4) offered a variety of options to buyers
Answers for Captains of Industry v. Robber Barons: