American History Module 3.3

Made his fortune taking over and merging other people's businesses.

Scottish born entrepreneur who owned majority of the steel industry.

The purchasing of companies to control the factors of production from the mine to the consumer.

Allows companies to conduct business without intervention by the government.

The following are reasons the south industrialized more slowly than the north except:

Prohibited monopolies from hindering competition

Complete control over industry's production, wages, and prices.

Biological theory to explain the evolution of human society applied to business practices.

Joining together companies producing similar products.

This man made Cleveland famous with his Standard Oil Company which controlled 90% of the market.

Why were business leaders such as John D. Rockefeller called robber barons?

Competing companies put control of their businesses under a single group of trustees.