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Quiz- Big Business

Name: Raina Bonilla Era of Big Business Quiz

QuestionAnswer
1. Name two captains of industry we discussed in class and identify the industry in which they are known. Andrew Carnegie – American steel industry John D. Rockefeller - Standard Oil Company
2. Explain the term “laissez faire” economics. It is a policy of minimum governmental interference in the economic affairs of individuals and society.
3. Explain the concept of Social Darwinism. It is the theory that human groups and races are subject to the same laws of natural selection as Charles Darwin perceived in plants and animals in nature.
4. Identify the term Robber Baron. It’s a derogatory term of social criticism originally applied to certain wealthy and powerful 19th-century American businessmen.
5. Name the two earliest acts of government regulation over the business world. For each, identify what they specifically attempted to regulate. The Interstate Commerce Act – railroad rates Navigation Acts – regulate trade with and within the North American colonies
Created by: reina_
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