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Question
what were two practices used to develop monopolies?
controlling all the steps in production and limiting transportation distances
driving out all business competitors and charging tariffs for crossing state lines
charging tariffs for crossing state lines and limiting transportation distances
controlling all the steps in a business process and driving out all the competitors
question 8
1 pts
what impact did andrew carnegie and john d. rockefeller have on the american economy in the last 1800s?
as secretary of the treasury and secretary of labor, they oversaw the reconstruction process
they established and dominated the new steel and oil industries, creating monopolies in both industries
they created company towns to take care of their workers and provide adequate living conditions.
they built the transportation industry and oversaw the completion of the transcontinental railroad
For the first question, monopolies are developed by controlling the entire business - process to gain cost - advantages and eliminating competitors to reduce market competition. For the second question, Andrew Carnegie dominated the steel industry and John D. Rockefeller dominated the oil industry, creating monopolies in the late 1800s in America.
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- controlling all the steps in a business process and driving out all the competitors
- They established and dominated the new steel and oil industries, creating monopolies in both industries