1.How did the rise of corporations (large businesses) assist economic expansion despite the economic recession in the late 19thcentury? 2.What impacts might horizontal and vertical integration have on consumers? 3.What evidence on the map (page 138) supports the idea that railroads linked cities in a network of industry and trade? 4.How did Andrew Carnegie’s belief in Social Darwinism color his views toward business and philanthropy (charity)? 5.Why was oil an essential part of industrial expansion during the late 19than early 20th centuries?
Answers
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Explanation:
2.
Horizontal integrations help companies expand in size, diversify product offerings, reduce competition, and expand into new markets. Vertical integrations can help boost profit and allow companies more immediate access to consumers.
4.
His steel empire produced the raw materials that built the physical infrastructure of the United States. He was a catalyst in America's participation in the Industrial Revolution, as he produced the steel to make machinery and transportation possible throughout the nation.
5.
The 19th century was a period of great change and rapid industrialization. The iron and steel industry spawned new construction materials, the railroads connected the country and the discovery of oil provided a new source of fuel. The discovery of the Spindletop geyser in 1901 drove huge growth in the oil industry. Within a year, more than 1,500 oil companies had been chartered, and oil became the dominant fuel of the 20th century and an integral part of the American economy.