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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Steel
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Railroads
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Oil
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Banking
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Detailed explanation-1: -5 Standard oil. In June 1870, John D. Rockefeller amalgamated a number of his companies to create what would become one of the world’s most powerful and influential organizations in Standard Oil. Standard Oil was a petroleum producing, refining, and transporting corporation based out of Cleveland, OH.
Detailed explanation-2: -Rockefeller built an oil monopoly by ruthlessly eliminating most of his competitors. This made him the richest man in the world. But he spent his retirement years giving away most of his money.
Detailed explanation-3: -Standard Oil (in full, Standard Oil Company and Trust) was an American company and corporate trust that from 1870 to 1911 was the industrial empire of John D. Rockefeller and associates, controlling almost all oil production, processing, marketing, and transportation in the United States.