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John D Rockefeller was able to gain control over most of the oil industry by?
collaborating with the rail system,
What is A situation in which a company or group of companies has enough control over an industry to be able to affect prices and availability of products?
A monopoly, hence anti-trust and competition legislations
Why did business people believe in an economic system free of government control?
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.
How was John D Rockefellers Able To Gain Control Over Most Of The Oil Industry?
John D. Rockefeller gained control over most of the oil industry primarily through strategic business practices, including horizontal integration, where he acquired competing oil companies to eliminate competition. He founded Standard Oil in 1870, which efficiently refined oil and reduced costs, allowing him to undercut rivals. Additionally, Rockefeller used aggressive tactics, such as negotiating favorable rail shipping rates and creating a monopoly, to dominate the market. His innovative management techniques and focus on efficiency further solidified his control over the oil industry.
What strategy did carnegie use to gain control of the steel?
Andrew Carnegie employed a strategy of vertical integration to gain control of the steel industry. By acquiring all aspects of production, from raw material sourcing to transportation and manufacturing, he was able to reduce costs and increase efficiency. Additionally, Carnegie focused on innovative production techniques and invested in new technologies, which allowed him to produce steel at lower prices than competitors. This combination of vertical integration and innovation ultimately positioned Carnegie Steel as a dominant force in the industry.
What was henry ford's dream?
Henry Ford had the dream that every American should be able to afford a car.
What kind of business is able to control an entire industry?
A Monopoly
How was Henry ford able to reduce the cost of producing cars?
Assembly Line
What did the process called vertical integration adopted by Henry Ford entail?
Ford purchased mines and smelting operations to better control the source and supply of material to produce cars. In this way, he was able to reduce his standing inventory and increase turnover
How was Henry Ford able to make the car inexpensive for Americans?
Henry Ford's application of the assembly line concept was one substantial factor in his ability to make an inexpensive automobile.
What are the advantages of production planning and control to a small scale industry discuss?
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.
Why did Henry ford pay his workers 5 a day?
he was able to hire the best mechanics.
How was Henry ford able to reduce thee price of the model t?
Assembly line
What technological innovation allowed Henry ford to be able to mass produce automobiles?
assembly lines
Was Henry ford was ultimately able to sell more cars because of the success of his assembly line?
true
Why did Henry Ford pay his workers so well?
He didn't want them to join unions, and he wanted them to be able buy Ford products.
Why did Henry Ford pay hes workers so well?
He didn’t want them to join unions, and he wanted them to be able to buy Ford products.
