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collaborating with the rail system,
A monopoly, hence anti-trust and competition legislations
Business people want less government control so that their businesses won't be highly regulated. They want to be able to expand without regard to promoting competition within the industry.
It is called a monopoly.
faces a demand curve that is inelastic throughout the range of market demand. faces a perfectly inelastic demand curve. is a price maker. is also able to dictate the quantity purchased
John D. Rockefeller
John D. Rockefeller. Apex :)
collaborating with the rail system,
John D. Rockefeller
John D. Rockefeller. Apex :)
Through horizontal integration Rockefeller was able to monopolize a single market. Because of his oil trust he was easily able to eliminate competitor's. Basically since he was bigger and better his business was on top.
A Monopoly
Advantages of production planning and control to a small scale industry are that, the industry is able to manage its finances, the industry controls the order and stock, there is no over or underproduction.
JP Morgan controlled the industry of corporate finance and industrial consolidation. At the height of his career he was able to stop the Panic of 1907 by directing a banking coalition.
The Jamestown colony was able to prosper in spite of many hardships because John Rolfe started the tobacco industry, which brought in a lot of money.
A monopoly, hence anti-trust and competition legislations
The Chinese government owns a large portion or has a golden control share in almost all large corporations, making it able to control their long-term goals and trajectories. This governmental control of industry is one of the hallmarks of socialism.