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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they were more efficient than smaller enterprises, leading to lower prices for consumers
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they often exploited their workers, who had to work long hours for low pay
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they were more careful to avoid the pollution of lakes and rivers than smaller businesses
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they were more carefully regulated by the government than smaller businesses
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Detailed explanation-1: -During the late nineteenth century, large corporations that employed thousands of workers formed. These companies became known as Big Businesses. Before the American Civil War, the United States was in its infancy when it came to industrialization. The vast majority of Americans earned their living in agriculture.
Detailed explanation-2: -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.
Detailed explanation-3: -Larger firms are also able to offer customers lower prices or greater price discounts through their ability to enjoy economies of scale, therefore achieve better profitability. They may also be able to set lower prices than other firms on the market. Greater choice for customers.