Ch. 6.3:-Tell me about Andrew Carnegie.eventually soldcarnegie steel companie thingcanegie hall named after-Tell me about John D. Rockefeller.morn in 1839established standard oil comanujoined with the competing companies in trus agrementstrus participants in a trust turn their stock over to a group of trustees who run the companiesas onelarge corporatoiaonnicknamed robber baroncecieve huge profits from the oillow pay adn sell oil fro less thean e bought it to bu out his competitonaftger he gained control spiked the prices high above the origanl rpicesestablished tockefeller foundationcreated a medical institute that found a cure for yellow fever-What was Social Darwinism and how did it apply to business?natural selectionlaissez faire means allow to dosuccess adn failure in business was governed by natural law adn no one had the right to interrvene-Explain how companies formed monopolies(vertical/horizontal integration, trusts).vertical bussiness buys out its supplier in order to control the raw materialshorizontal when coompanies aproducign simmilar products merge or gretr bought out byother companiestrusts is monopolies controoll allrefer to pg 242-How did the government try to regulate business?vob ed concerned that epandign corporations would stifle fre competitionsherman antitrust act mad it ellegal to form a trus that interfered with free tarade between states for with other countrieshard to enforcefirm felt pressure form the gov they would jus reorganize-What are labor unions and what is their purpose?organizatons workers can join were made to protect workers from being unerpaid adn over workedcraf union for certain skillindustial union are where people of the same indusstry thta do different things organize togetherWere labor unions successful in achieving their goals? Explain/Give examples.aot fo labor unions failed to strike sucsessfullybut added momentumone union stoped railroad actions for weeksyes and nomany unions faeledbut over all the basicly got wat they wanted in the end
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