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What was Andrew Carnegie able to create by buying up all aspects of the steel industry?
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Which US President was in office during the Alaska purchase?
Called Sewards Folly, the purchase of Alaska from Russia was also condemed as Johnson's Icebox after Andrew Johnson the US President at the time of aquisition. After the Louisana Purchase this US purchace was the finest Blue Light Special ever offered without war in the balance. This was not the spoils of war or the theft via power, or any act of chicanery. This was commerce and can be compared to buying the Hope Diamond for zilch at a Dollar Store.
How did french hope to make money in the New world?
By buying and selling furs.
Franklin's first activity in the city of Philadelphia is?
Buying bread
What does buying on margin mean?
Buying on margin is borrowing money from a broker to purchase stock.
How can installment buying help cause depression?
Installment buying helps cause depression, because, it encourages one to do impulse buying, which can become a burden in repaying , causing depression.
Andrew Carnegie gained control of a large percentage of the steel industry by doing?
By Buying out his suppliers.
How did Andrew carnegie use vertical integration to dominate the steel industry?
buying every part of the process, there by taking business away from other companies.
In what town in Pennsylvania was Andrew Carnegie's business located?
Andrew Carnegie was known for his business in the Steel Industry. By buying out other companies in the industry, he created what is known as a vertical monopoly, where he controls an industry through the whole process. i.e. He owned companies that mined the materials, transported them, processed them, and forged the steel for the final product. He used the City of Pittsburgh as the location for his steel mills, because of the ease of transportation by means of the three rivers. This is also why Pittsburgh is referred to as the Steel City - steel was the main industry of the city. Go Steelers
How did Americans build fortunes in the oil and steel industries?
Andrew Carnegie in steel and John D. Rockefeller in oil industry built fortunes by buying the competition, thus creating monopolies that could charge prices much higher than costs and earn large profits.
How did Andrew Carnegie use vertical integration to his advantage as he built his steel empire?
buying every part of the process, there by taking business away from other companies.
America's first billion-dollar corporation was?
United States Steel, created by J. Pierpont Morgan after buying Andrew Carnegie's holdings, which actually capitalized at $1.4 billion.
Who produced large quantities of steel very efficiently by buying and controlling iron ore deposits steel mills and railroads He helped the US become an important economic power in the world?
Andrew Carnegie.
Vertical integration a business strategy used by steel mogul Andrew carnegie involves?
Vertical integration involves controlling the product at ALL stages of development. Andrew Carnegie, owned the ore mines, furnaces and mills, the shipping lines to transport the steel, and the railroads that took it to market.
Which tycoon made steel into one of the nation's biggest industries?
Andrew Carnegie was the millionaire tycoon who made his riches in the steel industry.
The working culture of the industry or sector of buying property?
working culture of the industry sector
Who was the US President during the buying of Alaska?
Andrew Johnson.
Why did Andrew Carnegie argue in favor of monopolies?
Andrew Carnegie was a buisnessman and the richest one that ever lived with comparrison to the economy at the time, He went from an imigrant to head of the largest steal co in the world and hedid that by buying buying and buying every part of the steel industyr his rivals factories and every part of the industy including mines. He was a brilliant buisnessman and without monopoly he would never have reached what he had, eventually owning 90% of the industry its no wonder he suported it, and he was really a complicated man later in his life he laid out great emphasis on civil rights and industry regulations for workers yet the conditions in his steel mill were horrible (i.e. homestead) and he did all he could to maximize out put, though many saw him as a glorified man zesting up American economy he was a very harsh strict man who often acted cruely, that however was able to remain hidden and widely unseen being within the confines of his out mills, (yet later was greatly exposed). The fact that he suported monopoly a now heavily looked down upon institute was one he could not hide nor did he need to at the time major companies like naregie steel and rockefellers standard oil were simply unkown and the dangers of them had not yet been felt.
