Which was one way businesspeople tried to eliminate competition?

Answer 1

One way businesspeople tried to eliminate competition historically was through the formation of monopolies or trusts. By consolidating their power, businesses could control the market, set prices, and limit the availability of competing products or services. They might engage in practices such as undercutting prices to drive competitors out of business, acquiring rival companies, or forming agreements to limit competition, thereby increasing their market share and profitability. This practice often led to government regulation and antitrust laws aimed at promoting fair competition.