USA HISTORY

Detailed explanation-1: -Business leaders in the 1800s tried to eliminate competition by forming pools, trusts, monopolies, and through vertical and horizontal integration. Many companies organized pools to keep prices at a certain level, that is, they tried to keep prices from falling. Some companies formed trusts.

Detailed explanation-2: -Businesses created new forms of ownership like monopolies, cartels, and trusts to avoid liabilities, minimize costs cost, increase profits, gain capital, eliminate competition, and sometimes to get around laws that would prevent certain business practices.

Detailed explanation-3: -"Robber baron” is a term used frequently in the 19th century during America’s Gilded Age to describe successful industrialists whose business practices were often considered ruthless or unethical. Included in the list of so-called robber barons are Andrew Carnegie, Cornelius Vanderbilt, and John D. Rockefeller.

Detailed explanation-4: -“Eight hours for work, eight hours for rest and eight hours for what we will!” was the slogan of the 340, 000 workers who marched in cities across the U.S. on May 1, 1886, calling for the eight-hour day. Since the dawn of capitalism up until today, workers have been fighting for their time.

Detailed explanation-5: -What arguments did people use to support or oppose big business? support-great for economy, provides jobs and makes america stronger, opposition-exploitation of labor, rich got rich, poor got poorer.