Which was the immediate goal of the Standard Oil Company when it lowered its prices?
A: to sell stock to investors
B: to outcompete rival businesses
C: to form a monopoly
D: to pass on lower costs to customers
B: to outcompete rival businesses
The immediate goal of the Standard Oil Company when it lowered its prices was to outcompete rival businesses.
The immediate goal of the Standard Oil Company when it lowered its prices was:
D: to pass on lower costs to customers.
To arrive at this answer, let's break down the options:
A: to sell stock to investors - Lowering prices would not directly benefit stock sales. While lower prices might make the company more appealing to potential investors, it is not the immediate goal of lowering prices.
B: to outcompete rival businesses - Lowering prices can be a strategy to outcompete rivals, but it may not be the immediate goal. The immediate goal would be more specific to the company itself and its operations.
C: to form a monopoly - While forming a monopoly was certainly a long-term goal of the Standard Oil Company, it may not necessarily be the immediate goal of lowering prices. Monopolies are typically established through various tactics, including lower prices, but this option does not capture the immediate goal of the company.
D: to pass on lower costs to customers - This option aligns with the concept of lowering prices. When a company lowers its prices, it aims to provide its products or services at a more affordable rate for customers. This action can be driven by various factors, such as increased efficiency or economies of scale that result in lower costs for the company.