TCI PRACTICE QUESTIONS 2024

TCI PRACTICE QUESTIONS 2024An entrepreneur is - ANSWER a person who assembles and organizes the resources necessary to produce goods and services. How did government policies contribute to the boom in big business? - ANSWER It help them grow What was one consequence of the business boom? - ANSWER People began moving to the cities in search of their fortunes. Why did Mark Twain call this time period "the Gilded Age"? - ANSWER The growing number of millionaires showed off their new wealth at every opportunity. Andrew Carnegie brought the Bessemer process back to the United states. What was one consequence of his action? - ANSWER Steel began replacing iron in rails, locomotives, and bridges. Why is Edison considered the inventor who helped turn electricity into an everyday source of power? - ANSWER He and his team invented everything needed for an electrical power station and distribution system The inventor who created the telephone was - ANSWER Alexander Graham Bell. What was Henry Ford's great achievement? - ANSWER He mass-produced automobiles cheaply using a moving assembly line. Why were big businesses usually set up as corporations, rather than as partnerships? - ANSWER They needed more money to start up than just a few partners could provide. A trust is - ANSWER a group of corporations run by a single board of directors.