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Entrepreneurship in Late 19th Century America
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Entrepreneurship in Late 19th Century America

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Questions and Answers

Which of the following was NOT a factor that helped make it easier for entrepreneurs (business owners) to get bigger in the late 1800s?

  • Free enterprise
  • Protective tariff (correct)
  • A strong legal system
  • Bessemer process
  • What is a grant by the federal government that gives the inventor the exclusive right to develop, use, and sell an invention for a set time period called?

  • Socialism
  • Capitalism
  • Communism
  • Patent (correct)
  • Which economic system allows individuals and corporations to own/control the means of production (factories)?

  • Communism
  • Capitalism (correct)
  • Socialism
  • Protective tariff
  • Industrialization and free enterprise were important to every part of American life in the late 1800s. True or false?

    <p>True</p> Signup and view all the answers

    Which of the following terms refers to a process that revolutionized steel production and made it more efficient in the late 1800s?

    <p>Bessemer process</p> Signup and view all the answers

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