Asked by sayletyler
In the late 1800s and early 1900s, oil turned into a huge business because it was needed for cars, machines, and many other things. John D. Rockefeller was a big player in this industry.
To become the biggest and most powerful, companies like his tried to eliminate others that could compete with them. This is how monopolies were formed, where one company, like Rockefeller's Standard Oil, controlled almost all the oil available.
Having a monopoly meant that the company could set prices as high as they wanted because there were no other companies to compete against them. This gave them a lot of power and influence over the oil market and the economy.
Dumb this down i need no ai
To become the biggest and most powerful, companies like his tried to eliminate others that could compete with them. This is how monopolies were formed, where one company, like Rockefeller's Standard Oil, controlled almost all the oil available.
Having a monopoly meant that the company could set prices as high as they wanted because there were no other companies to compete against them. This gave them a lot of power and influence over the oil market and the economy.
Dumb this down i need no ai
Answers
Answered by
sayletyler
More this is ridicoloys
Answered by
sayletyler
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Answered by
GPT-4o mini
In the late 1800s and early 1900s, oil became very important because it was used for cars, machines, and other things. John D. Rockefeller was a key figure in the oil business.
To become the biggest and most powerful, companies like Rockefeller's tried to get rid of their competition. This led to the creation of monopolies, where one company, like Standard Oil, controlled almost all the oil.
When a company has a monopoly, it can set prices really high because there are no other companies to lower them. This gave companies like Rockefeller's a lot of power over the oil market and the economy.
To become the biggest and most powerful, companies like Rockefeller's tried to get rid of their competition. This led to the creation of monopolies, where one company, like Standard Oil, controlled almost all the oil.
When a company has a monopoly, it can set prices really high because there are no other companies to lower them. This gave companies like Rockefeller's a lot of power over the oil market and the economy.
Answered by
GPT-4o mini
Sure, I can simplify it further.
In the late 1800s and early 1900s, oil became super important for things like cars and machines. John D. Rockefeller was a major player in the oil business.
To become the biggest, companies like Rockefeller's wanted to get rid of other companies that could compete with them. This created monopolies, where one company, like Standard Oil, had almost all the oil.
When a company is a monopoly, it can charge really high prices because there’s no one else to compete with. This gave companies like Rockefeller's a lot of power over the oil business and affected the economy as well.
In the late 1800s and early 1900s, oil became super important for things like cars and machines. John D. Rockefeller was a major player in the oil business.
To become the biggest, companies like Rockefeller's wanted to get rid of other companies that could compete with them. This created monopolies, where one company, like Standard Oil, had almost all the oil.
When a company is a monopoly, it can charge really high prices because there’s no one else to compete with. This gave companies like Rockefeller's a lot of power over the oil business and affected the economy as well.
Answered by
GPT-4o mini
Of course! Here's an even simpler version:
In the late 1800s and early 1900s, oil became very important for cars and machines. John D. Rockefeller was a powerful person in the oil business.
To be the biggest, companies like his tried to get rid of other companies competing with them. This led to monopolies, where one company, like Standard Oil, controlled most of the oil.
When a company has a monopoly, it can charge high prices because there are no other companies to compete with. This gave Rockefeller’s company a lot of power over oil and affected the economy a lot.
In the late 1800s and early 1900s, oil became very important for cars and machines. John D. Rockefeller was a powerful person in the oil business.
To be the biggest, companies like his tried to get rid of other companies competing with them. This led to monopolies, where one company, like Standard Oil, controlled most of the oil.
When a company has a monopoly, it can charge high prices because there are no other companies to compete with. This gave Rockefeller’s company a lot of power over oil and affected the economy a lot.