WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
forming trusts and creating monopolies
|
|
|
paying low wages and hiring unskilled workers
|
|
|
investing in machines and fighting labor leaders
|
|
|
lobbying political bosses and donating to political campaigns
|
Detailed explanation-1: -Big business manipulated markets to maximize profits, formed corporations to avoid losses, created monopolies and cartels, and used vertical integration to control markets and eliminate competitors. These tactics often favored national businesses to the detriment of the local, family-owned businesses.
Detailed explanation-2: -During the Gilded Age, the economic disparities between the workers and big business owners grew exponentially. Workers continued to endure low wages and dangerous working conditions in order to make a living. Big business owners, however, enjoyed lavish lifestyles.
Detailed explanation-3: -The defining characteristics in the gilded age included individualism, urbanization, new values, art, and forms of entertainment. The Gilded Age refers to the era of rapid economic and population growth in the United States during the post? Civil War and post-Reconstruction eras of the late 19th century.