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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Oil
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Steel
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Investment Banking
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Railroads
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Detailed explanation-1: -John Davison Rockefeller, 1885, founder of Standard Oil and the biggest entrepreneur in the oil and gas industry.
Detailed explanation-2: -Rockefeller exploited every possible technical advance and employed fair means and foul to persuade competitors either to sell out or to join forces. By 1879 he controlled 90 percent of the nation’s oil refining capacity along with a network of oil pipelines and large reserves of petroleum in the ground.
Detailed explanation-3: -John D. Rockefeller founded the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Later in life he turned his attention to charity. He made possible the founding of the University of Chicago and endowed major philanthropic institutions.