ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Excited by the potential of milk chocolate, which at that time was a Swiss luxury product, Milton Hershey determined to develop a formula for milk chocolate and market and sell it to the American public. Through trial and error he created his own formula for milk chocolate.

Detailed explanation-2: -Milton Hershey borrowed a large sum of money from family to start his own candy business in 1876. He believed many people would visit Philadelphia during the anniversary of the American Revolution, so he based his company there.

Detailed explanation-3: -After a long time of deciding, he took a risk and sold Lancaster Caramel Company for one million dollars to start the famous Hershey Chocolate Company.

Detailed explanation-4: -Best Known For: American manufacturer and philanthropist who founded the Hershey Chocolate Corporation and popularized chocolate candy throughout much of the world.

Detailed explanation-5: -For many Americans, the name “Hershey” means chocolate. The man who started it all, Milton S. Hershey, was a great humanitarian and philanthropist. In 1905, Milton Hershey built his famous chocolate company in the town known today as Hershey.