Which company was a monopoly during the Gilded Age microsoft at&t Allegheny steel Carnegie steel

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Asked by wiki @ 14/06/2021 in History viewed by 89 People


Which company was a monopoly during the Gilded Age?

-Microsoft
-AT&T
-Allegheny Steel
-Carnegie Steel

Answered by wiki @ 14/06/2021


Carnegie Steel.

Andrew Carnegie used vertical integration, meaning he bought all the industries he needed to run his business, so he wouldn't have to continuously purchase goods he needed.

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Which company was monopoly during Gilded Age?

Although several companies held monopolies during the Gilded Age, one of the largest was John D. Rockefeller's Standard Oil Company.

What was one example of a monopoly from the Gilded Age?

The great monopolies of that period — Rockefeller's Standard Oil, the sugar trust, the financial and railroad interests — used their power to corrupt the economy and politics.

Was Carnegie Steel a monopoly during the Gilded Age?

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.

Who was the monopoly of steel?

Andrew Carnegie went a long way in creating a monopoly in the steel industry when J.P. Morgan bought his steel company and melded it into U.S. Steel.