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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supporting immigration quotas
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developing overseas markets
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forming monopolies or trusts
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Increasing the prices of their products
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Detailed explanation-1: -Following the Civil War, Big Business emerged. Larger companies began to form. These firms strove to dominate the economic arena. They formed trusts, monopolies, and pools to limit competition from other companies.
Detailed explanation-2: -A monopoly limits available substitutes for its product and creates barriers for competitors to enter the marketplace. Monopolies can lead to unfair consumer practices. Some monopolies such as those in the utility sector are government regulated.
Detailed explanation-3: -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-4: -Approved July 2, 1890, The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices. The Sherman Anti-trust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts.