In the Context of the Initial Developments of the Industrial

question 100

Multiple Choice

In the context of the initial developments of the industrial base in the United States, which of the following statements is true about robber barons?

• A)They ensured that smaller operations were effectively put out of business.
• B)They quickly came to dominate new sectors of the economy.
• C)They were unable to take advantage of the economies of scale that were possible with the industrial age.
• D)They came to dominate industrial sectors that had existed historically.

---

Definitions:

Domestic Price

Domestic price refers to the price of goods or services within a country's borders, influenced by domestic supply and demand, taxes, and subsidies.

Domestic Output

The total value of all goods and services produced within a country's borders in a given time period.

Imported Jeans

Denim pants that are produced in one country and brought into another country for sale, subject to trade policies and tariffs.

Domestic Price

The price of goods or services within a country's own market, as opposed to international prices.