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.
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Back in the day japan started it in 1980
Answer:
They are the opposite of each other
Explanation:
Harry: teaches at school; loves to paint when he has time; <u>voted for the candidate whose economic policies he strongly believed in, such as providing incentives for people to start their own businesses.</u>
Julie: works at a government-owned factory; Julie is a born artist; the government <u>restricts</u> the number of businesses that can be started each year.
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