Ask Question
HistoryHistory
16 March, 18:20

John D. Rockefeller was able to monopolize the oil market, due to

A) driving out or buying other oil industries; hiring only immigrants and former slaves, so he was able to pay workers far less money; received large investments from wealthy Americans that allowed him to excel quicker

B) vertical consolidation - buying/driving out all other oil companies and/or entrepreneurs and horizontal consolidation - buying into all other industries needed to minimize costs, maximize profits, and dominate the oil market

C) horizontal consolidation - buying/driving out all other oil companies and/or entrepreneurs and vertical consolidation - buying into all other industries needed to minimize costs, maximize profits, and dominate the oil market

D) driving out or buying other oil industries; hiring only immigrants and former slaves, so he was able to pay workers far less money; invested money into the campaigns of major political leaders to avoid strict business laws

+3
Answers (2)
  1. 16 March, 21:13
    0
    The correct answer is C) horizontal consolidation-driving/buying out all other oil companies and / or entrepreneurs and vertical consolidation - buying into all industries needed to minimize costs, maximize profits, and dominate the oil market.

    John D. Rockefeller was able to monopolize the oil market due to horizontal consolidation-driving/buying out all other oil companies and / or entrepreneurs and vertical consolidation - buying into all industries needed to minimize costs, maximize profits, and dominate the oil market.

    John D. Rockefeller was the owner of the Oil-Standard Company. This Company practically controlled all the oil industry from 1870 to 1911. He created a monopoly by buying almost all the other oil companies and he had a vertical consolidation acquiring transportation and warehousing companies in order to reduce costs to a minimum and maximizes profits. He controlled the production process of oil, shipment, transportation, and selling.
  2. 16 March, 22:10
    0
    Answer: C) horizontal consolidation - buying/driving out all other oil companies and/or entrepreneurs and vertical consolidation - buying into all other industries needed to minimize costs, maximize profits, and dominate the oil market

    Explanation: John D. Rockefeller was able to monopolize the oil market, due to horizontal consolidation - buying/driving out all other oil companies and/or entrepreneurs and vertical consolidation - buying into all other industries needed to minimize costs, maximize profits, and dominate the oil market. This is different from vertical integration, which involved owning businesses that are involved in making a final, finished good, also to lower lower costs associated with production.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “John D. Rockefeller was able to monopolize the oil market, due to A) driving out or buying other oil industries; hiring only immigrants and ...” in 📙 History if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Why did Jewish emigration from Germany sharply increase from 1933 to 1939?
Answers (1)
Which was an effect of industrialization in Latin American nations during the postwar years? the rise of caudillos more emphasis on farming staple crops migration of millions of workers to cities decreased global trade
Answers (1)
What was the name of the first agreement that was created on how our government would run in America after the American - Revolution? A. The Articles of Confederation B. The Nationalism Treaty C. The Confederate States Manifesto D. The Constitution
Answers (1)
When did French Baroque architecture reach its peak? a. during the rule of Louis XVI b. during the rule of Marie Antoinette c. during the rule of Henry XV d. during the rule of Versailles XV
Answers (1)
The origin of industrial relations in india can be traced in to the: a. second world war b. first world war c. third world war d. british rule
Answers (1)
New Questions in History
What british actions in 1775 moved the colonists toward independence?
Answers (1)
What compromise might be found that would be supported by New Jersey as well as by states that wanted the legislature based on the states' population?
Answers (1)
The main source for knowing man's life before literacy
Answers (1)
Who ended the Song dynasty? Mongol attackers from the north Japanese troops from the east Mughal invaders from the west Persian armies from the south
Answers (1)
The articles of confederation made it difficult for Congress to protect the nation against foreign threats by
Answers (1)
Home » History » John D. Rockefeller was able to monopolize the oil market, due to A) driving out or buying other oil industries; hiring only immigrants and former slaves, so he was able to pay workers far less money;
Sign Up Forgot Password?