Vacation HW

• During the Christmas Break please complete the following assignments.

• They will be worth a large grade (you deserve a lot of points for doing the work over break).

• This information will be on your midterm.• There are 6 tasks, all labeled 1-6…make sure

you find and do them all!

On paper to hand in:

• 1. Should people be able to acquire as much wealth as they want in life? Or should someone regulate it? Why?

• Monopoly: total or almost total control of the market by one business.

• 2. Draw a cartoon that resembles this.

John D. Rockefeller: Oil Tycoon• Rockefeller was trying to take over

an industry (a monopoly), the oil business

• However, he would need to eliminate competition….

• To do so,1. His company Standard Oil, would

lower oil prices to attract competitor’s customers

2. Raise the price of oil once competitors were driven out of business

• By 1890, Standard Oil controlled over 90% of American oil

• Reaped HUGE profits by paying his employees very low wages

• Critics began to call him a “Robber Baron”

• Result: Rockefeller gave away over 500 million to Universities and hospitals over his lifetime

Andrew Carnegie: King of Steel• Born a poor man, one of 1st to

make his own fortune• A smart man, he realized the

potential of the Bessemer Process• So…he sunk his savings into a steel

plant in Penn.• Within a year, his steel was the

most sought after in the country• To stay on top, Carnegie:1. Kept tabs on his competitors2. Rewarded Talented Employees3. Fired Incompetent Workers• Carnegie’s Story: Ultimate “Rags to

Riches” Story

• By the way: If you have time, try to watch the show “The Men Who Built America” on History Channel- it’s excellent and all about these people!

What kind of things do you like to see on a report card?

• Time for you to be the teacher now… • Based on what you know about each businessman…if you were there

teacher, how would you grade the way they’ve run their businesses?• Teacher’s Comments: Why did you give them that grade? Explain

you reasoning,• 3. Make a chart like the one below.

Business Entrepreneur Letter Grade Teacher Comments

AndrewCarnegie

John D.Rockefeller

• Read in your textbook p. 594-597.• 4. On pg 597 answer Question 3 (Main Ideas)

a, b and c. • Read in your textbook p. 600-603. • 5. On pg 603 answer Question 1 (Terms and

Names) and Question 3 (Main Ideas) a and b.

6. MEAT Paragraph

• I will accept this HANDWRITTEN with the same papers you are handing in for tasks 1-5.

• Choose ONE of the following questions to answer in a MEAT paragraph.– Did the Industrial Revolution add more positives

or negatives to people’s daily life?– Were people like Carnegie and Rockefeller a

blessing or a curse for society?