Identifying key terms, people, and places

____ 1. inventor who established the American Telephone and Telegraph Company

____ 2. inventor who developed the idea of a central electric power station

____ 3. inventor who developed a new way to make steel

____ 4. industrialist who preached the “gospel of wealth”

____ 5. industrialist who established Standard Oil

____ 6. workers called in to replace striking workers

____ 7. political radicals who oppose all government

____ 8. inventor who patented the telegraph

IDENTIFYING KEY TERMS, PEOPLE, AND PLACES

Match each item with the correct statement below. You will not use all the items.

a.	collective bargaining
b.	social Darwinism
c.	business cycle
d.	patent
e.	division of labor
f.	scabs
g.	anarchists
h.	socialism
i.	cartel
j.	trust
k.	monopoly

____ 9. The theory that discouraged government interference in economic matters was ____.

____ 10. When a company has no competition in selling its product, it is said to have a ____.

____ 11. A loose arrangement of similar businesses formed to control production and keep prices high is called a ____.

____ 12. Breaking a job down into separate tasks and having each worker perform a different task is known as ____.

____ 13. ____ is the philosophy that advocates public rather than private control of property.

____ 14. When workers negotiate as a group with employers, they are engaging in ____.

____ 15. Employers sometimes replace striking workers with other workers called ____.

____ 16. Political radicals who violently oppose all government are known as ____.

KEY TERMS

Match each term with its description below.

a.	patent
b.	productivity
c.	transcontinental railroad
d.	Bessemer process
e.	mass production

____ 17. improved the process of making steel

____ 18. the amount of goods and services created in a given period of time

____ 19. license to make, use, or sell an invention

____ 20. production in great amounts

____ 21. a railroad extending from coast to coast

____ 22. to control all phases of a product’s development

____ 23. several companies managed as a single unit

____ 24. a loose association of businesses that make the same product

____ 25. theory of survival of the fittest as it applied to business

____ 26. idea that as production increases, cost per item decreases

1. ANS: B PTS: 1

2. ANS: A PTS: 1

3. ANS: E PTS: 1

4. ANS: D PTS: 1

5. ANS: H PTS: 1

6. ANS: F PTS: 1

7. ANS: C PTS: 1

8. ANS: G PTS: 1

9. ANS: B PTS: 1

10. ANS: J PTS: 1

11. ANS: I PTS: 1

12. ANS: C PTS: 1

13. ANS: G PTS: 1

14. ANS: B PTS: 1

15. ANS: A PTS: 1

16. ANS: H PTS: 1

17. ANS: D PTS: 1

18. ANS: B PTS: 1

19. ANS: A PTS: 1

20. ANS: E PTS: 1

21. ANS: C PTS: 1

22. ANS: E PTS: 1

23. ANS: C PTS: 1

24. ANS: B PTS: 1

25. ANS: A PTS: 1