Question

Which of the following shows a similarity in the business practices of John D. Rockefeller and Andrew Carnegie? (8 points) a Both formed important steel companies. b Both relied on horizontal integration. c Both tried to control competition to increase profits. d Both created holding companies to buy up other companies.

Answer 1

Answer: Option (C)

Explanation:

Rockefeller and Carnegie both dominated various different industries and market, the oil industry was dominated by Rockefeller while steel industry was dominated by Carnegie. Both of them were the one who tried to control their competition in their own respective market and industries in order to increase profits. Organizations practices are considered as one of the most cost- effective way in which one can do so.