The conditions that created a favorable business climate during the late 1800s included the following:
1. There was no government interference. Businesses were self-regulated.
2. Laissez fair capitalism thrived in the face of free competition.
3. Businesses created monopolies to limit or prevent competition.
4. Businesses determined the prices of their products and services and wages paid to employees.
5. Transportation and other technological innovations facilitated business activities.
Thus, these conditions helped businesses to develop faster during the late 1800s, unlike later years.
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