1) When a product is produced in large quantities and the price comes down that is called: a) A Monopoly b) Mass Production c) The Assembly Line  d) Inflation 2) When prices of goods increase dramatically that is called: a) mass production b) inflation c) the assembly d) a Mononop;y 3) The first Amendment guarantees all Americans: a) Freedom of Speech b) Freedom of Religion  c) The right to peacefully protest d) All of the above 4) Laissez Faire Capitalism is the idea that: a) The government is involved in business activity b) The government is not in control of business activity 5) Someone who believes in the idea of Social Darwinism believes: a) new immigrants were equal to people native to America b) Stronger businesses would succeed at the expense of weaker businesses c) the poor should be protected by the government 6) Andrew Carnegie was associated with what industry? a) Oil b) steel c) coal d) gold 7) John D. Rockefeller was associated with what industry? a) oil b) steel c) coal d) gold 8) A negative Term applied to millionaire business leaders. They created monopolies and treated their employees unfairly. a) Captains of Industry b) Entrepreneurs c) Robber Barons d) Capitalists 9) Positive term applied to millionaire business leaders. They created jobs for people and created wealth for our country. a) Captains of Industry b) Entrepreneurs c) Robber Barons d) Capitalists 10) The complete ownership of an industry.  The goal is to eliminate competition. a) Communism b) Capitalism c) Bureaucracy d) Monopoly 11) Henry Ford is famous for... a) Inventing the car b) Inventing the light bulb c) Inventing the submarine d) inventing the assembly line 12) A philanthropist is someone who... a) Accepts money from the government b) refuses to pay their taxes c) donates money to charity d) plays basketball 13) Property is shared among the people. a) Capitalism b) Socialism 14) Competition is promoted and benefits the consumer.  a) Capitalism b) Socialism

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