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How did large trusts like Standard Oil justify their economic dominance?
Wiki User
∙ 9y ago
Eliminating competition.
Wiki User
∙ 10y ago
Wiki User
∙ 9y agoJohn D. Rockefeller of Standard Oil justified its economic dominance by believing that his way of transporting oil was the best way. He would often buy up smaller related companies and then give Standard Oil special rebates on their products. Many other large trusts acted this way.
Wiki User
∙ 6y agoAs the company grew, it would buy out its smaller competitors, either absorbing or shutting down rivals.
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How did Rossevelt justify the need for government regulation of the trusts?
Your mom is how he did it
What large trusts like standard oil and swift and armour justified their economic domination of their industries by claming that?
B) only large-scale methods of production and distribution could provide superior products at low prices. :)
State several specific business practices that Rockefeller seems to justify in his comment to his Sunday school class?
Social Darwinism and the establishment of monopolies and trusts.
How did trusts like Standard Oil become large?
Eliminating competition.
What concerns did critics of big businesses have regarding trusts?
The concerns critics have on big business regarding trusts is that to earn more money trusts often tried to get rid of competition and to control production. The wealth and size of trusts such as standard oil made many Americans fear the influence of business leaders over government.
How did Rossevelt justify the need for government regulation of the trusts?
Your mom is how he did it
What has the author Theodor Duimchen written?
Theodor Duimchen has written: 'Die trusts und die zukinft der kulturmenschheit' -- subject(s): Accessible book, Industrial Trusts 'Monarchen und Mammonarchen' -- subject(s): Economic conditions, Industrial Trusts, Standard Oil Company
What is an example of an economic reform?
I think it's breaking up the trusts and monoplies
Trusts like standard oil became large mostly by?
Eliminating business
What large trusts like standard oil and swift and armour justified their economic domination of their industries by claming that?
B) only large-scale methods of production and distribution could provide superior products at low prices. :)
State several specific business practices that Rockefeller seems to justify in his comment to his Sunday school class?
Social Darwinism and the establishment of monopolies and trusts.
How did trusts like Standard Oil become large?
Eliminating competition.
Why did some people support trusts?
Some people supported trusts because they believed that trusts could lead to greater efficiency in industries, lower costs for consumers, and increased economic growth. They saw trusts as a way to centralize control and streamline operations in a competitive marketplace. Additionally, trusts were often backed by wealthy and powerful individuals who could influence government policy in their favor.
What concerns did critics of big businesses have regarding trusts?
The concerns critics have on big business regarding trusts is that to earn more money trusts often tried to get rid of competition and to control production. The wealth and size of trusts such as standard oil made many Americans fear the influence of business leaders over government.
What has the author Hermann Levy written?
Hermann Levy has written: 'Lady Christina und mein prinzipal' 'Monopole' -- subject(s): Economic conditions, Industrial Trusts, Monopolies, Trusts, Industrial 'The Shops of Britain: International Library of Sociology L' 'Monopoly and competition' -- subject(s): Accessible book, Cartels, Economic conditions, Industrial Trusts, Monopolies 'Volkscharakter und Wirtschaft' -- subject(s): Economics, National characteristics 'Large and small holdings' -- subject(s): Agriculture, Economic aspects of Agriculture, Land tenure, Land 'Die stille Frau' 'Die neue Kontinentalsperre' -- subject(s): Economic aspects, Economic aspects of World War, 1914-1918, World War, 1914-1918 'Retail trade associations' -- subject(s): Retail trade, Societies, Trade associations, Restraint of trade, Professional associations 'England and Germany, affinity and contrast' -- subject(s): Relations, Politics and government 'Monopole, kartelle und trusts in ihren beziehungen zur organisation der kapitalistischen industrie, dargestellt an der entwicklung in Grossbritannien' -- subject(s): Economic conditions, Industrial Trusts, Monopolies, Trusts, Industrial
What are the advantages and disadvantages of monopolistic trusts such as the Standard Oil Trust for consumers?
One advantage of a monopolistic trust are that prices can remain low. Disadvantages of monopolistic trusts is that it eliminates competition and can result in an unequal distribution of wealth.
What has the author Joseph R Crowley written?
Joseph R. Crowley has written: 'The antitrust structure of the European Common Market' -- subject(s): Antitrust law, Congresses, European Economic Community, Industrial Trusts, Trusts, Industrial
