What business practice contributed most to Andrew Carnegie's ability to form a monopoly? using profits to support charities in order to greatly improving his reputation increasing his profits every year focusing on a single aspect of steel production combining his companies into one company, and controlling all aspects of steel production

Question

Dayton

History

11 December, 13:50

What business practice contributed most to Andrew Carnegie's ability to form a monopoly? using profits to support charities in order to greatly improving his reputation increasing his profits every year focusing on a single aspect of steel production combining his companies into one company, and controlling all aspects of steel production

+2

Answers (1)

Know the Answer?

Jason Goodman · Answer 1

The correct answer is D) combining his companies into one company, and controlling all aspects of steel production.

The business practice that contributed most to Andrew Carnegie's ability to form a monopoly was "combining his companies into one company, and controlling all aspects of steel production."

Carnegie was a smart man that knew when to make the correct financial decisions that favored its company. During the Depression of 1873, he made a bold move and decided to invest in steel. With the use of technology he efficient, the process of producing steel and he was buying other competitors to get a vertical growth that allowed him to form one of the most notorious monopolies in the United States, just like John Rockefeller did with his Standard Oil Company.