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USI Jeopardy Unit V Round I Answer Key

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Business Lingo
#1 What is the name for the business entity in which investors share in the ownership of a company with the goal of making a profit? Corporation
#2 What was the term for producing large numbers of products quickly and inexpensively? Mass Production
#3 What is the term for a company’s complete control of the market for a good or service, thereby allowing the company to artificially raise prices? Monopoly
#4 The freedom to run a business for profit with minimal regulation beyond what is necessary to protect the public interest is known as what? Free Enterprise
#5 What is the name for a group of producers of a single product that meets to set prices and controls in order to collectively monopolize the market? Cartel
Business Laws & Agencies
#1 Which agency was created in 1872 over concerns about the environment? National Park Service
#2 What did Congress enact with regards to imports in order to promote the buying of American goods? Tariff
#3 What is the legal protection over an invention called, which gives the inventor the exclusive right to develop, use, and sell an invention for a certain period of time? Patent
#4 Which law did Congress pass that outlawed any trust that operated “in restraint of trade” or competition on the free market? Sherman Antitrust Act
#5 Which federal agency was created to regulate trade that crossed state lines? Interstate Commerce Commission
Businessmen
#1 Which form of transportation best connected the cities to the natural resources that they needed in the west during the mid and late-1900s? Railroads
#2 Those in control of big business that ended up buying or squeezing out smaller businesses were known by what term by their critics? Robber Barons
#3 In 1882, which inventor worked to bring Direct Current (D/C) electrical lines into businesses and homes for electrical lighting? Thomas Edison
#4 In 1886, who worked to build an Alternating Current (A/C) system of electricity that used a transformer to step up voltage for long distance transmission and then step back voltage for use by consumers in the home for things such as electrical lighting? George Westinghouse Jr.
#5 Who was an important banker that helped finance several big businesses? J.P. Morgan
Inventions
#1 What was Thomas Edison’s famous invention made in 1879? Lightbulb
#2 What Henry Ford invention revolutionized the world? Model T
#3 The Bessemer process was used to purify iron and produce what strong but lightweight material? Steel
#4 What did Lamarcus Thompson invent in 1884 to relief to even poor city workers? Rollercoaster
#5 What invention was introduced in 1888 in Richmond Virginia that made mass transit within the city more efficient? Electric Streetcar
Leisure & Entertainment
#1 By 1900 approximately 90% of the population could read. This was known as what? Literacy
#2 James Naismith invented which sport in 1891 at the Springfield, Massachusetts YMCA? Basketball
#3 Which amusement park near New York City was an alternative for families who could not afford to go somewhere on vacation? Coney Island
#4 Which popular show toured the U.S. and Europe in the late nineteenth century? Buffalo Bill's Wild West Show
#5 What type of variety show entertainment became famous in the late nineteenth century, featuring musical drama, songs, and off-color comedy? Vaudeville
Final Question