What was one of the key strategies Andrew Carnegie used to dominate the steel industry?

Industrial Age Economic Theories and Practices

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Business
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9th - 10th Grade
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Hard

Patricia Brown
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Investing in real estate
Vertical and horizontal integration
Outsourcing labor to other countries
Focusing solely on marketing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does vertical integration involve?
Focusing on a single product line
Investing in foreign markets
Purchasing companies at all levels of production
Buying out competitors in the same industry
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How did horizontal integration help companies like Carnegie's?
By diversifying product lines
By reducing production costs
By increasing employee wages
By eliminating competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What theory was used to justify the wealth of industrialists during the Industrial Age?
Keynesian economics
Supply-side economics
Social Darwinism
Trickle-down economics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who was known for promoting the 'rags to riches' success story?
Andrew Carnegie
John D. Rockefeller
JP Morgan
Horatio Alger
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a monopoly?
A company that focuses on international trade
A company that has complete control over an industry's production, wages, and prices
A company that controls all aspects of production
A company that invests in multiple industries
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How did John D. Rockefeller achieve control over the oil industry?
By creating a trust with competing companies
By forming a holding company
By focusing on retail sales
By investing in renewable energy
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