Question

Which business practice is described by the following scenario: A steel mill owner buys the mine that produces iron ore, the railroad that transports the iron ore, the factory that makes steelmaking furnaces, and the company that advertises the steel?
A. selling stock
B. horizontal integration
C. scientific management
D. vertical integration

Answer 1

Answer:

The correct answer is option D: Vertical Integration.

Explanation:

The business practie of vertical integration is when a company or a business does the multiple process need it of the company. So, in this example the person who own the steel meel produces the iron themselves and transport it and seel it to different stores. They have the whole chain process themselves.