Take the Millionaire Quiz Pretend you are

Take the Millionaire Quiz

Pretend you are writing the directions to include in the game Monopoly.

vs Where will you buy your bike? Defend both sides (I will not be offended)

Advanced technology along with the use of oil and electricity helped American businesses grow. Soon the shape of the American economy changed. Some companies grew so large that they began to dominate entire industries. Most towns had their own small factories to produce goods for local people…Along with the help of the railroad, big factories started to take over. They could mass produce things cheaper, so small factories

The steel industry started to prosper. Steel was stronger and not likely to rust like other metals being used. new Used to create the “skyscrapers” It created smog and waste that was thrown into rivers Pittsburgh = Steel Capital **Andrew Carnegie

Corporations, a business ran by investors, began growing. They would sell stocks, or portions of ownership in the business, and use the money to reinvest. Stockholders provided money and hoped to receive dividends, shares of the corporations profits. **J. P Morgan Corporations relied on banks to get money

The abundance of varied natural resources helped the US expansion of industry. Oil became a huge value and was turned to Kerosene for stoves and lamps. Rockefeller started the Standard Oil Company and performed practices such as forcing railroads to give him rebates to strengthen his company. **John D. Rockefeller Soon, monopolies became a component of business.

Is this ruining free Free enterprise is when a business is enterprise? owned by private citizens. (T no o t t t rus o tru t or st ) What companies today do you think hold a monopoly on business?

Critics argued that changes were needed because trusts made it difficult for new companies to compete. The Sherman Trust Act very weak Some states began passing laws to regulate business Big Business Argued: corporations worked around them Corporations and trusts brought lower production costs, lower prices, higher wages and a better quality of life for the people. Competition creates inefficiency and waste.

Who do you support? Create a protest sign for a “big business” or the “small business. ”

Homework - Research Find out one new fact about each of the tycoons

Corporation – businesses that sell portions of ownership called stock shares Dividends - profits Monopoly – total ownership of a product or service Vertical integration – ownership of businesses involved in each step of a manufacturing process Horizontal integration - owning all businesses in a certain field Trust – a legal arrangement grouping together a number of companies under a single board of directors Social Darwinism – a view of society based on scientist Charles Darwin’s theory of natural selection

Corporation – businesses that sell portions of ownership called stock shares Dividends - profits Monopoly – total ownership of a product or service Vertical integration – ownership of businesses involved in each step of a manufacturing process Horizontal integration - owning all businesses in a certain field Trust – a legal arrangement grouping together a number of companies under a single board of directors Social Darwinism – a view of society based on Corporation horizontal integration scientist Charles Darwin’s theory of natural selection dividends trust

Business Trivia WHO ARE WE TALKING ABOUT ?

Review Biz Terms Bill Gates 2. Home Depot 3. Kentucky Fried Chicken 4. Coke 1. 5. Papa Johns 6. Chick Fillet 7. Levi’s 8. UPS

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