Question
Which was the most important effect of the Bessemer process?
(1 point)
Responses
It allowed the production of more steel.
It allowed the production of more steel.
It produced better steel.
It produced better steel.
It made steel cheaper.
It made steel cheaper.
It allowed factory production of steel.
It allowed the production of more steel.
Which was the immediate goal of the Standard Oil Company when it lowered its prices?
(1 point)
Responses
to sell stock to investors
to sell stock to investors
to outcompete rival businesses
to outcompete rival businesses
to form a monopoly
to form a monopoly
to pass on lower costs to customers
to outcompete rival businesses
Which of these would most likely happen under a free market?
(1 point)
Responses
government regulators set maximum prices
government regulators set maximum prices
political influence determines what products are made
political influence determines what products are made
an appointed agency decides where businesses can operate
an appointed agency decides where businesses can operate
individual business owners set prices to compete for business
individual business owners set prices to compete for business
individual business owners set prices to compete for business
Which was one way businesspeople tried to eliminate competition?
(1 point)
Responses
They formed monopolies or trusts.
They formed monopolies or trusts.
They decreased the price of their products.
They decreased the price of their products.
They developed overseas markets.
They developed overseas markets.
They paid higher wages to their workers.
They paid higher wages to their workers.