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Historically, the Standard Oil Company, founded by John D. Rockefeller in 1870, held a monopoly in the oil industry in the United States. At its peak, it controlled about 90% of the U.S. oil refining business, leveraging aggressive business practices to eliminate competition. This dominance led to significant public outcry and regulatory scrutiny, culminating in the U.S. Supreme Court's decision in 1911 to break Standard Oil into several smaller companies.
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When business gains complete control of an industry it is called?
When business gains complete control of an industry it is called a monopoly. In the United States, monopolies are illegal by statute.
What replaced dice in monopoly during World War 2?
During WW2, Monopoly used plastic dice, as they do now. Earlier British versions (where the game originated) used Bakelite dice, a ceramic composite that predates plastic. During WW2, British Secret Service conspired along with the game manufacturers to hide compasses, real money and small metal tools in the Monopoly games that were shipped to prisoners held in German war camps.
When was Ghetto Monopoly created?
Ghetto Monopoly was created on 2006-12-26.
Which industry did Cornelius Vanderbilt control?
Cornelius Vanderbilt controlled the railroad industry.
Andrew carnegie dominated what industry?
steel
What men held a monopoly in the oil industry?
John D. Rockefeller
What company held the monopoly on the photographic industry for most of the twentieth century?
Kodak held a virtual monopoly of the photographic industry from the turn of the century through this period, perennially controlling roughly 90 percent of the film market and an overwhelming share of the camera market
What does a monopoly do ?
A monopoly controls an industry
Is De Beers a monopoly in the diamond industry?
Yes, De Beers has historically held a dominant position in the diamond industry, often referred to as a monopoly due to its control over a significant portion of the global diamond supply.
What is a company that has control of an entire industry?
A monopoly
Which of these controls prices and availability in an industry?
Monopoly ~ APEX :)
Which of these men held a monopoly in the oil industry?
John D. Rockefeller
What does monopoly do?
controls an industry
The situation in which a single company controls an entire industry is called what?
a trust
What controls an industry by controlling other companies in the industry?
Monopoly
What is the exclusive control of an industry?
a monopoly
When a industry or business has no competition?
A monopoly is an industry or business having no competition.
