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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Elimination of as much competition as possible
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Supporting a centrally planned economy
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Funding research on new technologies
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Elimination of the tactic of vertical integration
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Detailed explanation-1: -More than any other single factor, the railroad network spurred the amazing industrialization of the post–Civil War years.
Detailed explanation-2: -What was the relationship between competition and monopoly in American industry during the post-Civil War era? As a result of the intense competition among railroads, the railroads were unstable financially and vulnerable to any downturn in the business cycle.
Detailed explanation-3: -The national government began regulating business in the late 1800s in order to eliminate monopolies, businesses or groups that have exclusive control of an industry. Government now regulates a wide array of business practices, including the elimination of competition and fraudulent product offerings. Regulating labor.
Detailed explanation-4: -The rise of big business in the United States transformed the economy by making it more about big corporations and not small local businesses. Large corporations could create more product at a lower cost and could also support more workers’ paychecks while continuing their overall quality and quantity of work.