Question

According to the article, which of the following characteristics fit Standard Oil? Check all that apply:

Answer 1

Answer:

A. It practiced ruthless business techniques.

C. It dominated the oil market.

D. It controlled the transportation of oil.

Explanation:

Standard Oil managed the oil goods market originally through smooth combination in the refining area, then, in later years upward combination; the organization was an innovator in the advancement of the industry business. The Standard Oil trust streamlined generation and logistics reduced values, and undermine opponents. "Trust-busting" experts prosecuted Standard Oil of practicing offensive pricing to crush opponents and form a merger that warned other industries.

Answer 2

The correct answers are as followed:

A) It practiced ruthless business techniques- Standard Oil, run by John D. Rockefeller, was well known for using strategies in order to buy out or eliminate competitors within the same market.

C) It dominated the oil market- At one point, Standard Oil was responsible for producing almost 90% of the oil used within the United States.

D)It controlled the transportation of oil- John D Rockefeller would buy different railroad companies so that Standard Oil had complete control on how oil would be moved across the United States.