The Men Who Built America Episode 2 Answers

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The Men Who Built America Episode 2 Answers – Oil Strike

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The Men Who Built America Episode 2 Answers – MCQs

Q. Why did Rockefeller have to learn to work so hard?
Ans: He supported his family from a young age because his father was not around

Q. What does Rockefeller promise Vanderbilt that he may not be able to keep?
Ans: That he will fill all of Vanderbilt’s trains with his oil

Q. According to Donald Trump (Real Estate Mogul and Nick Hartman’s hero) besides being smart and having a vision, what traits do the most successful people in life exhibit?
Ans: Not quitting

Q. Why do Americans fear kerosene and how does Rockefeller calm those fears?
Ans: Dangerous, causes fires, names his company “Standard Oil” because he guarantees that he makes his the same way every time and therefore it is safer than other companies’ product

Q. What does Rockefeller do with all of the profit he will make by playing the railroads against each other and what do we call it today?
Ans: Bought out his competitors, horizontal integration (type of monopoly)

Q. What does Vanderbilt do to regain an advantage over Rockefeller?
Ans: He went to Mr. Scott, his competitor, and decided together to pull all of Rockefeller’s deals.

Q. How does Rockefeller react to Vanderbilt’s move? (How does he perceive it?)
Ans: Act of war

Q. What does Rockefeller do to counter Vanderbilt’s move against him?
Ans: Builds his own oil pipeline

Q. What is the ultimate result of Rockefeller’s move against Vanderbilt and the railroads?
Ans: It made it so they couldn’t fill the trains. They lost cargo and therefore began to lose money.

Q. After Vanderbilt dies (of old age), who becomes Rockefeller’s new competition?
Ans: Tom Scott and Andrew Carnegie

Q. What does Rockefeller’s new competition do that makes Rockefeller mad?
Ans: Going to build an oil pipeline of their own

Q. What does Rockefeller do in return?
Ans: Shuts down his oil wells near Pittsburgh so he doesn’t give Scott and Carnegie any profits

Q. Who wins between Rockefeller and his new competition?
Ans: Rockefeller

Q. Who loses (besides the one man Rockefeller was competing against)?
Ans: workers

Q. What was the problem with Rockefeller’s deal with Cornelius Vanderbilt?
Ans: He was only presently capable of producing half that.

Q. John D. Rockefeller had helped support his family because of his troubled father. What was the occupation of William A. Rockefeller, John’s father?
Ans: Con man

Q. Rockefeller didn’t want to take the risk of finding oil wells. He avoided it by taking over another step in the process. What was that step?
Ans: Refining the oil

Q. According to Mr. Trump, “The people that really succeed in life are those who don’t_______.”
Ans: quit

Q. Why did Rockefeller choose the name “Standard Oil?”
Ans: He guaranteed a uniform consistency, or standard, for his kerosene.

Q. What did Rockefeller do with the profits from his deal with both major railroads?
Ans: He bought out his competitors.

Q. Rockefeller created America’s first monopoly. Vanderbilt realized that Rockefeller was too powerful and decided to “take him down.” How did Vanderbilt try to accomplish this?
Ans: He went to Mr. Scott, his competitor, and decided together to pull all of Rockefeller’s
deals.

Q. How did Rockefeller attempt to solve the problem created by Vanderbilt?
Ans: He decided to transport the oil by pipeline.

Q. Mark Cuban said, “Wherever there’s change, wherever there’s uncertainty, there’s opportunity.” How did Rockefeller demonstrate this principle?
Ans: Whenever things went wrong, Rockefeller was there to adjust – and make money.

Q. How did Rockefeller’s actions affect the railroads?
Ans: It made it so they couldn’t fill the trains. They lost cargo and therefore began to lose
money.

Q. Once the railroad stock crashed, they had to close the stock market. What did this “bubble burst” mean for the average American?
Ans: The Panic of 1873 triggered the first full-blown, national depression.

Q. Most Americans were really struggling, but Rockefeller was still doing quite well – even buying up struggling companies. How did Rockefeller view himself here?
Ans: It’s survival of the fittest – and Rockefeller was the fittest of all.

Q. Scott realized he needed to diversify or lose. What did he begin doing?
Ans: He started building his own oil pipeline.

Q. Scott ran the only railroad between Pittsburgh and New York – and therefore the only way for Rockefeller to transport his oil. What did Rockefeller do about this problem, and what was the result?
Ans: Rockefeller shut down the Pittsburgh refineries. This led to a riot that destroyed 39 buildings and over 1200 rail cars.

Q. Rockefeller’s great-grandson gives him credit for being such a good businessman. For what does his great-grandson NOT give him credit?
Ans: the way that he became that powerful

 

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Conclusion – Episode 2 Oil Strike

Vanderbilt expands his enterprises, realizing that oil is the nation’s next crucial commodity. The demand for oil is high and Vanderbilt knows that it will be an important item for his trains to transport. He turns to a young oilman from California named John D. Rockefeller to make a deal that will work for both businessmen, but rivalries emerge between them. Rockefeller’s Standard Oil has become one of the nation’s first monopolies. A financial panic in 1873 shows that the American economy is on shaky ground even as it expands.

 

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