WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
IMMIGRATION IN INDUSTRIAL AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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limiting their production.
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merging competing firms.
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cutting back on their labor force.
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encouraging competition for products.
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Detailed explanation-1: -Cartels attempt to increase members’ profits while maintaining the illusion of competition. There are 4 forms of cartel activity. These are price fixing, sharing markets, rigging bids and controlling output.
Detailed explanation-2: -Approved on February 4, 1887, the Interstate Commerce Act created an Interstate Commerce Commission to oversee the conduct of the railroad industry. With this act, the railroads became the first industry subject to Federal regulation.
Detailed explanation-3: -Why would big business leaders have disliked the Supreme Court’s decision in the Standard Oil case? Corporations can become so large that they have too much influence over an industry.
Detailed explanation-4: -Why did business leaders, such as Andrew Carnegie, set up universities, museums, and libraries? To give poor people a chance to become wealthy through education.