WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ROBBER BARONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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using horizontal and vertical integration to make up a trust containing Standard Oil
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buying large sections of the transcontinental railroad
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going into partnership with Andrew Carnegie
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charging higher prices than his competitors
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Detailed explanation-1: -The birth of Standard Oil took off when he made Standard a horizontal integration, from merely drilling for oil to refining oil. Once Standard moved to a vertical integration, it became a monopoly. The vertical integration covered oil production, transportation, refining, and marketing.
Detailed explanation-2: -Standard Oil gained a monopoly in the oil industry by buying rival refineries and developing companies for distributing and marketing its products around the globe. In 1882, these various companies were combined into the Standard Oil Trust, which would control some 90 percent of the nation’s refineries and pipelines.
Detailed explanation-3: -Rockefeller often bought other oil companies to eliminate competition. This is a process known as horizontal integration.