Which of the following statements about John D. Rockefeller is most accurate?
A. He founded the Standard Oil Company when he was 24 years old.
B. He considered competition to be the central ideal of capitalism.
C. He drilled the first oil well near Titusville, Pennsylvania.
D. He invented the concept of vertical integration.
I am VERY confused on this question my book says at the age of 24 he built a titan of corporate business, the Standard Oil Company. Other websites are saying B because he founded the standard oil company at 30 but my book just says he considered the competition wasteful, small scale enterprise inefficient. I'm torn between A and B please help.
It's not A because he founded the Standard Oil Company when he was 30.
I don't believe it's B because he believed that "competition is a sin."
http://www.texemarrs.com/082010/baku_oil_fields.htm
It's not C.
http://en.wikipedia.org/wiki/Titusville,_Pennsylvania
It must be D.
http://www.u-s-history.com/pages/h957.html
the correct answer is "A"
Answer is A
In order to determine which statement about John D. Rockefeller is most accurate, let's break down the options and find the most reliable information.
A. He founded the Standard Oil Company when he was 24 years old.
B. He considered competition to be the central ideal of capitalism.
C. He drilled the first oil well near Titusville, Pennsylvania.
D. He invented the concept of vertical integration.
To verify the accuracy of these statements, we can use reliable sources such as books, articles, or reputable websites.
Regarding option A, the claim that he founded the Standard Oil Company at the age of 24, your book seems to support this statement. However, other websites contradict this information, stating that he founded the company at the age of 30. To resolve this confusion, it would be best to cross-reference multiple sources or consult a historian specializing in this subject.
Option B, which claims that Rockefeller considered competition to be the central ideal of capitalism, seems to align more closely with the information provided in your book. If you believe your book is reliable, this statement could be the most accurate.
Option C, suggesting that Rockefeller drilled the first oil well near Titusville, Pennsylvania, is factually incorrect. The first successful commercial oil well in the United States was drilled by Edwin L. Drake in Pennsylvania in 1859, several years before Rockefeller's involvement in the oil industry.
Option D states that Rockefeller invented the concept of vertical integration. While Rockefeller was certainly known for his use of vertical integration in the oil industry, he did not invent the concept itself. Vertical integration has been employed by various industries throughout history.
Given the available options and the information you provided, option B appears to be the most accurate statement about John D. Rockefeller. However, I encourage you to consult additional reliable sources to further validate your understanding.