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10/2/25 Study Guide

Monopolies, Robber Barons and Captains of Industry

QuestionAnswer
How did monopolies hurt customers? They set high prices.
What effect did monopolies have on consumers? Consumers suffered from high prices and low quality products
In the late 1800s, how did railroad monopolies create economic hardships for farmers? by charging high prices to ship agricultural goods to market
Someone who opposed monopolies would have been most supportive of which of the following? Sherman Antitrust Act
This outlawed monopolies to ensure competition was fair Sherman Anti-trust Act
What company was started by John D. Rockefeller? Standard Oil Company
Industrial Tycoons like Rockefeller and Carnegie donated large sums of money to libraries, colleges, and art centers. When someone donates large sums of money for the betterment of the people and communities, or gives to charity, this is known as Philanthropy
How did Andrew Carnegie contribute to civic and social life in the United States? By establishing philanthropic organizations dedicated to education and the arts
When Andrew Carnegie stated, “The man who dies rich, dies disgraced,” he was supporting charitable giving
What did Andrew Carnegie get in business for? Steel
Vanderbilt made his fortune off of what industry? Railroads
How did Henry Bessemer affect the rise of industrialization? He developed a process to purify steel, making it stronger.
The Grange, the Farmer's Alliance, and the Populist Movement all attempted to address problems experienced by farmers
To what group of people did Populism primarily appeal? farmers
What was one of the main goals of the Populist Party in the late nineteenth century? To increase the money supply by coining silver.
What was Bryan arguing in his "Cross of Gold" speech? The gold standard harmed some groups in society.
 



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