6-3 A monopoly is a fun game, as well as a business in control of it's market. A philanthropist is someone who gives away lots of their money towards the end of their life. John D. Rockefeller looked funny. He owned the standard oil company and was the richest guy in the world. Oil was a very big business. He would undersell to his competetors and they couldn't compete and had to sell their businesses to him. Giant octopus!!!!! rawr. Sherman antitrust act broke up big businesses, preventing a monopoly. Horizontal integration is oil company a trying to buy out oil company b trying to buy out oil company c. Vertical integration is like an oil company buying a railroad line, or ships, and stuff like that. a labor union is an organized group of workers that try to improve working conditions. Labor unions weren't very successful at first because everyone was against them.
You need to be a member of History 360 to add comments!
Comments