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Robber Barons
| Question | Answer |
|---|---|
| An important aspect in the economy that makes businesses lower prices and offer better products. | Competition |
| A business without competition, that controls an industry | Monopoly |
| Owners of monopolies during the gilded age are known as this | Robber Barons |
| This Robber Barons gained a monopoly over steel and was known for giving away money | Andrew Carnegie |
| This Robber Baron controlled Railroads and Shipping and believed in Social Darwinism | Cornelius Vanderbilt |
| This is the idea that only the fittest (strongest) people survive in society. | Social Darwinism |
| This is when a monopoly owns of every part of production and distribution of a particular product. | Vertical Integration |
| This is when a monopoly has no competition because there are no other businesses supplying that product. | Horizontal Integration |
| This Robber Baron was a banker and financier who Created US Steel and General Electric and even loaned money to the US government. | JP Morgan |
| This Robber Baron created a monopoly in the oil industry and became the richest man in history | John D Rockefeller |
| This is also known as Laissez Faire or Free market, when the government does not make laws to control businesses | Capitalism |
Created by:
ryanosborne86
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