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Which was the most important effect of the Bessemer process?
Answer: It made steel cheaper -
Which was the immediate goal of the Standard Oil Company when it lowered its prices?
Answer: to outcompete rival businesses -
Which of these would most likely happen under a free market?
Answer: individual business owners set prices to compete for business -
Which was one way businesspeople tried to eliminate competition?
Answer: They formed monopolies or trusts
Which was the most important effect of the Bessemer process?
(1 point)
It allowed the production of mare steel
It produced better steel
It made steel cheaper
It allowed factory production of steel
Which was the immediate goal of the Standard Oil Company when it lowered its prices?
(1 point)
to sell stock to investors
to outcompete rival businesses
to form a monopoly
to pass on lower costs to customers
Which of these would most likely happen under a free market?
(1 point)
government regulators set maximum prices
Political influence determines what products are made
an appointed agency decides where businesses can operate
individual business owners set prices to compete for business
Which was one way businesspeople tried to eliminate competition?
(1 point)
They formed monopolies or trusts
They decreased the price of their products.
They developed overseas markets.
They paid higher wages to their workers.
1 answer