Homework Packet
Big Business Unit
Due: February 10, 2013 Test: February 10, 2013
Chapter 13.2
Directions: Using the assigned sections, define the terms, answer the questions and complete the creation/writing assignments. All work must be your own. Do not copy. All work MUST be completed on a separate sheet of paper. Questions and writing assignment must be in well written, complete sentences. Staple this cover sheet to the top of your completed work. (10 points) Points may be taken off if the completed work lacks care and effort.
Vocabulary
Please note some of these terms are not bolded or highlighted terms and may take some extra effort on your part to find them!
Social Darwinism / Oligopoly / Monopoly / CartelVertical Consolidation / Economies of Scale / Horizontal Consolidation / Trust
Sherman Anti-Trust Act / Gospel of Wealth / Rockefeller / Robber Baron
Captains of Industry / Carnegie / Standard Oil Trust
Short Answer
1.) Some Americans were offended by the argument that business leaders protected jobs. What does the cartoon on page 470 suggest about the relationship between workers to business leaders?
2.) What problems might a business face when trying to compete with a company that has a vertical monopoly? With a company that has a horizontal monopoly?
3.) How did the theory of social Darwinism affect the government’s relationship with big business?
4.) What were some features of the new big business?
5.) How might vertical and horizontal consolidation help a company dominate its market?
6.) Why did the Sherman Anti-Trust Act seek to stop big business from forming trusts?
Creation
11. Create a political which illustrates Carnegie’s and Rockefeller’s role in the American economy in the early 1900s.
Writing
12. Do you view the nation’s early industrialists as robber barons or captains of industry? Discuss.