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Gilded Age Part II Corporations and Monopolies Reading
Gilded Age Part II Corporations and Monopolies Reading
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Corporations were formed in every imaginable industry textiles, oil, steel, farming equipment, railroads, etc The main goal of these corporations was to maximize its profits (meaning their goal was to make the most money possible). Corporations devised many different ways to maximize their profits.
The Result?
Corporations made huge profits in the late 1800s and early 1900s. The economic growth that occurred during this period helped to make our country stronger. Additionally a very small percentage of our population grew very wealthy (men like Andrew Carnegie and John Rockefeller).
U.S. History
Fact Check
1. Which of the following best defines corporation? a. Corporation: working together with others in a productive way b. Corporation: when businesses wipe out the competition and no other businesses exist c. Corporation: a business owned by investors who purchase a piece of the company through shares of stock d. Corporation: a privately owned business 2. Throughout the early part of American history, most businesses were privately owned. Why did many business owners switch to the corporate model in the late 1800s? _______________ ______________________________________________________________________________ ______________________________________________________________________________ 3. What is the main goal of a corporation? ____________________________________________ 4. Which of the following statements about monopolies is false? a. A company that wipes out all of its competitors is called a monopoly. b. Monopolies result in much lower prices for consumers. In a country with a lot of monopolies, the prices of products are very low. c. Monopolies are good for business owners because they can charge high prices for their products and consumers have no choice but to buy those products (or go without) d. Monopolies allow business owners to charge high prices for products because they do not have to worry about a competitor selling the same product for a lower price 5. Identify three ways that the government helped corporations to grow during the Gilded Age a. _______________________________________________________________________ _ b. _______________________________________________________________________ _ c. _______________________________________________________________________ _ 6. Which of the following is an example of a laissez-faire approach to
economics? a. The U.S. government gave railroad companies millions of acres of land and business subsidies to promote economic growth in the 1800s b. President Obama hired people to rebuild Americas infrastructure in 2009 in hopes of lowering the unemployment rate and stimulating the economy. c. The U.S. government did not enact any minimum wage laws in the late Fair or unfair 1800s.
Reader Response
1. Do you think monopolies are fair or unfair? Explain your position using evidence from the text. __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ _______ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ __________________________________________________________________________ _______
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