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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

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What is the process of forming a monopoly called?

vertical integration


What is The process by which social institutions are adopted on a global scales called?

The process by which social institutions are adopted on a global scale is called globalization. It involves the integration of economies, cultures, and societies across the world through the exchange of ideas, goods, and services.


What is vertical and horizontal integration.?

Horizontal Integration : When a company decides to expand horizontally i.e within its current line of business then it is called horizontal integration. For eg. pepsi when it got into snacks it can be called a horizontal integration.Vertical integration: When a firm covers all activity of supply chain then it can be called as vertically integrated. Eg. if a paper manufacturing industry goes into plantation of woods and other activities involved with production raw material (wood) it can be called a vertical integration.


What is vertical and horizontal integration?

Horizontal Integration : When a company decides to expand horizontally i.e within its current line of business then it is called horizontal integration. For eg. pepsi when it got into snacks it can be called a horizontal integration.Vertical integration: When a firm covers all activity of supply chain then it can be called as vertically integrated. Eg. if a paper manufacturing industry goes into plantation of woods and other activities involved with production raw material (wood) it can be called a vertical integration.


When firms involved in different steps of manufacturing or marketing merge the result is a?

That's called Vertical Integration.


What is horizontal and vertical integration?

Horizontal Integration : When a company decides to expand horizontally i.e within its current line of business then it is called horizontal integration. For eg. pepsi when it got into snacks it can be called a horizontal integration.Vertical integration: When a firm covers all activity of supply chain then it can be called as vertically integrated. Eg. if a paper manufacturing industry goes into plantation of woods and other activities involved with production raw material (wood) it can be called a vertical integration.


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Why was Andre carniegie important?

Andrew Carnegie was important because he was a major head of a monopoly or trust in the early 1900's. He created U.S. Steel, which he later sold to J.P. Morgan. He used a method called vertical integration to elimanate his competition. Vertical integration is when you get rid of the middle man, so all parts of the process of making steel were done by his company. This industry was revolutionized by the Bessemer Process by which making steel was possible. After selling his business and retiring, Carnagie became a major philanthropist, donating millions of his dollars to charities and the arts. U.S. Steel became the first billion dollar industry in America.