WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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reducing competition through the formation of trusts
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increasing benefits for industrial workers
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supporting the passage of strict antitrust laws
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preventing foreign investment in the United States
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Detailed explanation-1: -What major factor(s) led to the rise of big business and monopolies in the 1900s? New technologies like steam engines, railroads, and telegraphs made communication and transportation easier. The ability to source and transport materials across the country with ease turned many local businesses into national companies.
Detailed explanation-2: -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-3: -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-4: -Big business grew in the late nineteenth century when new sources of power such as the steam engine, coal, and electricity drove the machines in larger factories that organized production under one roof. Companies could now mass produce standardized goods faster and more efficiently.