T/F railroads played a huge role in expanding the steel and oil industres
T/F monopolies or trust eliminated competition in the market which allowed the to control adn price
T/F carnegie and rockeefeller were able to maximize thire profit through horizantal integeration
T - True
T - True
T - False
T: Railroads played a significant role in expanding the steel and oil industries. They provided a means of transporting raw materials and finished products, enabling these industries to grow rapidly.
T: Monopolies or trusts did eliminate competition in the market, allowing them to control price and exert significant control over their respective industries.
T: Both Carnegie and Rockefeller were able to maximize their profits through horizontal integration. They acquired competitors in the same industry to consolidate their market share and reduce competition.
T/F railroads played a huge role in expanding the steel and oil industries.
True. Railroads played a crucial role in the expansion of the steel and oil industries during the late 19th and early 20th centuries. Railroads provided a reliable and efficient means of transportation for raw materials, such as iron ore and coal, which were necessary for the production of steel. The steel industry greatly benefited from the ability to transport its products to various markets, and railroads facilitated this process. Similarly, oil companies relied on railroads to transport crude oil from oil fields to refineries and distribute refined products to customers.
T/F monopolies or trusts eliminated competition in the market, allowing them to control prices.
True. Monopolies or trusts were business practices employed by industrialists during the late 19th and early 20th centuries. These practices involved consolidating multiple companies or acquiring competitors in a specific industry, effectively eliminating competition. By controlling the majority of the market share, monopolies or trusts had the power to set prices and dictate the terms of trade. This lack of competition often led to higher prices and reduced consumer choice.
T/F Carnegie and Rockefeller were able to maximize their profits through horizontal integration.
True. Andrew Carnegie in the steel industry and John D. Rockefeller in the oil industry both employed horizontal integration strategies to maximize their profits. Horizontal integration refers to the process of merging or acquiring companies at the same stage of production or within the same industry. By consolidating various companies involved in the production of steel or oil, Carnegie and Rockefeller were able to establish a dominant position in their respective industries. This allowed them to streamline operations, reduce costs, and exert control over the entire supply chain, ultimately maximizing their profits.