THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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John D. Rockefeller
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Andrew Carnegie
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Cornelius Vanderbuilt
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J.P. Morgan
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Detailed explanation-1: -Answer and Explanation: Andrew Carnegie (b. 1835-1919) gained control of the U.S. steel industry by producing quality steel at low prices and by taking over every stage of production, eventually gaining a monopoly.
Detailed explanation-2: -By age 30, Carnegie had amassed business interests in iron works, steamers on the Great Lakes, railroads, and oil wells. He was subsequently involved in steel production, and built the Carnegie Steel Corporation into the largest steel manufacturing company in the world.
Detailed explanation-3: -Carnegie looked upon his industrial rivals as enemies and worked ruthlessly to adopt innovations and cut costs in an effort to defeat them. In the process the price of steel was driven ever lower, benefiting steel buyers and users.