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What methods did the railroad barons used to drive smaller companies out of business?
As the railroad network expanded, the railroad companies competed fiercely with one another to keep old customers and to win new ones. Large railroads offered secret discounts called rebates to their biggest customers. Smaller railroads that could not match these rebates were often forced out of business. The railroad barons also made secret agreements among themselves, known as pools. They divided the railway business among their companies and set rates for a region, a railroad could charge higher rates and earn greater profits.
Should congress have allowed railroad barons to make agreements about business and rates?
Yes, because they were already making business deals and talking about rates when trying to consolidate with smaller companies.
What industry are the robber barons all connected with?
They were associated with the railroads.
Why were the railroad barons successful?
railroad barons were created because the industry consolidated. Consolidation made the large companies more efficient..
How did railroad barons make their fortuneas?
they made fortunes by consolidating several companies
What did the robber barrons do?
In the US in the latter part of the 19th century, wealthy "robber barons" created trusts and monopolies to gain millions of dollars at the expense of the ordinary citizens. They went unchecked in building unsafe factories, and took over railroads and other forms of unrestricted business. The were experts at unfair business practices.
What was true about the robber barons business?
They became rich by building monopolies
Who were the robber barons apex?
The richest business leaders of the 19th century.
What is the truth about how the robber barons did business?
they became rich by building monopolies
How did business leaders earn nickname robber barons?
People accused them of using unfair business practices.
Why were business leaders such as John D. Rockerfeller called robber barons?
Business leaders such as John D. Rockefeller were called 'robber barons because he made huge profits by paying his workers low wages.
Which term best describes wealthy business owners who often engage in unfair or anticompetitive business practices?
Robber barons
