Answer:
James Watt- steam engine with condenser- used much less coal than earlier engines.
Henry Bessemer- Industrial process for steel production- made it cost efficient to produce steel from molten iron on a large scale.
Eli Whitney- Cotton gin- Allowed fibre to be extracted from seed more efficiently.
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Andrew Carnegie was the one who used vertical integration to control steel production.
Vertical integration involves:
- Owning all the companies in the supply chain of a good including the <u>producers to the retailers </u>
- Being able to reduce production costs as a single company owns the various stages of production
Andre Carnegie founded Carnegie Steel which he used to acquire the suppliers of steel all the way to the sellers.
This allowed him to control the steel industry as he could overcharge competitors for steel whilst maintaining lower prices for his company.
In conclusion, Andrew Carnegie was able to us vertical integration to control the steel industry in a monopolistic like manner.
<em>Find out more at brainly.com/question/1403856.</em>
<span>During the age of absolutism, several European monarchs intensified the power of their authority by emphasizing their divine right to rule and centralizing their power.</span>
