Question

What was the core business that made Standard Oil a horizontally integrated monopoly?

Answer 1

Answer:

Refining Oil is the correct answer.

Explanation:

Standard Oil was an American Oil company. It was established by Henry Flagler and John D Rockefeller in 1870. In nineteenth-century it was the largest oil refinery and multinational corporation. It was broken down by the US Supreme court in 1911. The company used horizontal integration and later shifted to vertical integration for dominating the market. The company was criticized for establishing a monopoly and using an aggressive pricing strategy to destroy its competitors.