WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Helped to develop wealth for America and made US a world power.
|
|
|
It was at the expense of the consumer, factory worker, and immigrants.
|
|
|
All of the above.
|
|
|
None of the above.
|
Detailed explanation-1: -Horizontal integrations help companies expand in size, diversify product offerings, reduce competition, and expand into new markets. Vertical integrations can help boost profit and allow companies more immediate access to consumers.
Detailed explanation-2: -Vertical and horizontal integration led to new managerial hierarchy, which in turn created greater control and less autonomy for workers. These managers, however, were the ones responsible for the shift within the labor markets in the 1870s.
Detailed explanation-3: -Key Takeaways The advantages include increasing market share, reducing competition, and creating economies of scale. Disadvantages include regulatory scrutiny, less flexibility, and the potential to destroy value rather than create it.
Detailed explanation-4: -By integrating various levels of the supply chain, companies can control supplies, reduce costs, ramp up production and increase efficiency. In addition, vertical integration facilitates economies of scale-eliminating supply disruption and supplier dominance.