Economics and the Industrial Revolution
5 Written Questions
5 Matching Questions
- What is an assembly line?
- Pros to Assembly lines
- Vertical monopoly
- Horizontal Monopoly
- Supply and Demand
- a Supply? Amount they have produced
Demand? How much people want it
- b Cheaper products
All products are exactly the same
Owners become rich because they can make more money
Lots of jobs
Improved Middle class standard living
Lots of unskilled jobs
Easier for immigrants
- c A line of production where each unskilled worker completes one specific task to make the final product
- d were it's calm with no competition, when you control all the products for one industry...you control the price and can make it the price you want
Vertical monopoly - when you control all the materials produced...
- e when you control all the materials produced...
5 Multiple Choice Questions
- Pollution, child labor, poor pay, cities overpopulated, terrible working conditions
- When a company had little to no competition... they make the only product on the market
- SUPER SUPER RICH PERSON
- made owning trusts illegal...and forced monopolies to sell of parts of their monopoly to create competition
- When there is less money going around. When there is no demand prices drop until goods are cheap enough for people to buy.
5 True/False Questions
Philanthropy → Inflation means rising price...the more money people have the more they can pay for goods and services
Bull market → When the economy grows and is doing well.
Why were immigrants taken advantage of so badly? → They owned factories. Wanted to make good profit. To do that they cut salaries and expenses.
Melting pot → When a company had little to no competition... they make the only product on the market
Why did some people become so rich? → They owned factories. Wanted to make good profit. To do that they cut salaries and expenses.