USA HISTORY

Detailed explanation-1: -Answer and Explanation: Andrew Carnegie (b. 1835-1919) gained control of the U.S. steel industry by producing quality steel at low prices and by taking over every stage of production, eventually gaining a monopoly.

Detailed explanation-2: -Andrew Carnegie had gone a long way towards creating a monopoly in the steel industry when J.P. Morgan bought his steel company and merged it into U.S. Steel to create a monstrous corporation approaching the size of Standard Oil.

Detailed explanation-3: -Once he did make it into the steel industry he adapted the style of vertical integration. This this business style can be seen as a monopoly due to its control of the complete process of a product. This meant that he controlled every aspect from the barges, steel mills, the mines, and the transportation of the product.

Detailed explanation-4: -In addition, Carnegie Steel bought up its sources of raw materials and shipping (in a strategy called vertical integration) and bought out and absorbed its competitors (horizontal integration) to dominate the steel industry. By the 1890s, it was the largest and most profitable steel company in the world.

Detailed explanation-5: -In the early 1870s, Carnegie co-founded his first steel company, near Pittsburgh. Over the next few decades, he created a steel empire, maximizing profits and minimizing inefficiencies through ownership of factories, raw materials and transportation infrastructure involved in steel making.