USA HISTORY

Detailed explanation-1: -Key Takeaways. A conglomerate is a corporation made up of several different, independent businesses. In a conglomerate, one company owns a controlling stake in smaller companies that each conduct business operations separately. Conglomerates can be created in several ways, including mergers or acquisitions.

Detailed explanation-2: -Businesses created new forms of ownership like monopolies, cartels, and trusts to avoid liabilities, minimize costs cost, increase profits, gain capital, eliminate competition, and sometimes to get around laws that would prevent certain business practices.

Detailed explanation-3: -A monopoly is when one company and its product dominate an entire industry whereby there is little to no competition and consumers must purchase that specific good or service from the one company.

Detailed explanation-4: -The Sherman Antitrust Act is a law the U.S. Congress passed to prohibit trusts, monopolies, and cartels. Its purpose was to promote economic fairness and competitiveness and to regulate interstate commerce. Ohio Sen. John Sherman proposed and passed it in 1890.